Securities and Exchange Commission Chairman Gary Gensler this week declared war on what he called, promising a vigorous attack on fraud and misconduct. But progress is likely to be more piecemeal and incremental than wholesale and sudden.
Mr. Gensler outlined his desire to regulate digital assets such as bitcoin and other crypto products to the same extent as stocks, bonds and commodity-related trading instruments. He told the Aspen Security Forum on Tuesday that his priorities include newer innovationsand decentralized finance, products that are beginning to draw more mainstream investors.
The impulse to regulate these markets is growing more evident around the globe. Japan’s top financial regulator said Wednesday that plans to combat money laundering would also include digital currencies. Mr. Gensler’s mission faces several obstacles, including the cryptocurrency industry’s historical resistance to following SEC rules. Because so many crypto developers have bypassed the SEC’s front door, the agency has tried to rein them in through enforcement, a slow process that requires investigating a particular product and either suing the team behind it or convincing them to settle and adopt the SEC’s requirements.
“There is going to be a more aggressive enforcement posture, and I think that is one way to bring order to chaos,” said Lee Schneider, a securities lawyer who has worked at several broker-dealers and cryptocurrency firms. “That is one way, but perhaps not the most effective or the most evenly distributed way.”
Source: News Formal (newsformal.com)
The height of irony! The only Wild West here is within the SEC. This period will go down in the annals of U.S history with the U.S missing the biggest opportunity for financial growth and prosperity since the Industrial Revolution.
Crypto currency trading is people trying to make a fast buck, like the stock market except for metal coins that the only real value is the value the market places on it, if not they are worthless. Kind of like an illusion, smoke in the air then gone.
come get some, bitch
I just wanna say a big thank you to Henrymayson4 I was nobody until a friend of mine introduced me into investing with you, Since then it's been nothing but financial 💰 Success for me. I will invite my friends and family into your company Henrymayson4 you are the best💯🤞
Your to weak for war Garry have a vitamin!
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: Cosmopolitan - 🏆 725. / 51 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: Forbes - 🏆 394. / 53 Read more »
Source: Forbes - 🏆 394. / 53 Read more »