US Securities and Exchange Commission (SEC) Chairman Gary Gensler has drawn attention with his latest warning to the cryptocurrency sector.
Gary Gensler included the cryptocurrency sector in his speech at the Columbia Law School conference. Gensler emphasized that some actors in the industry are still operating illegally and this is bad for the overall image with statements like “disinfectant is necessary.”
Gensler implied that some cryptocurrency companies selling securities continue their activities without permission:
There are participants in the crypto securities markets who try to avoid these registration requirements. Not registering means not having to make mandatory disclosures. Many agree that crypto markets could use a little disinfectant
After his speech, Gensler tried to calm down a long-standing chaos with his statement at the Question-Answer section about the US Commodity Futures Trading Commission (CFTC).
Gensler highlighted that cryptocurrencies put the US public in some financial danger, and stated that they are working with the CFTC to resolve this issue:
If something doesn’t have a group of entrepreneurs or a group that the public trusts, the CFTC will be part of this security circle. They (CFTC) are also a wonderful derivatives regulator, so President Behnam and I regularly talk.
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