Gary Gensler: SEC will rework investor protection laws

Article Reading Time:
1 min.

Chairman of the U.S. Securities and Exchange Commission (SEC) Gary GenslerHe said that the crisis in the crypto market made it possible to determine a "mixed" type of cryptocurrency regulation.

In an interview with TV Balance of Power, Gary Gensler stated that trading and lending platforms that have raised money and in some cases failed are subject tounder "Classic Parts of Securities Laws".

The difficulty is that there are too many platforms that don't complyGensler believes that the crisis that many crypto lenders and exchanges have recently faced has shed lightthe type of regulation that the industry needs now.

According to him, "this is a mixture" that includes cooperation with market participants and the revision of some means of protecting investors.Gensler noted that the SEC must be "technologically neutral" while still protecting the public.

If cryptocurrency continues to evolve, more trust in the system will be required."A lot of laws that have been in place for decades."

Gensler warned that many tokens have the attributes of advertising activities and fundraising fromand promised that the SEC would "continue to take strong enforcement action."

Gensler's rhetoric is often aimed at protecting investors. Recently, the SEC Chairman called on cryptocurrency lending platforms to provide complete and reliable information to customers.