The Securities and Exchange Commission Chairman said that crypto “‘Fits in Our Broad Remit’ to the Wall Street Journal.
The interview turned eyes as Gensler weighed in on the crypto issue and showed interest. The chairman of SEC believes in decentralized exchanges and said they do more than just being exchanges.
After claiming to bring robust regulations on crypto markets back in September, this is a sharp u-turn. Although anticipating the u-turn was easy, as the major world economies have started stretching their hands on crypto and blockchain technologies. He said that he wants the people from the crypto community, like exchange owners, to come and talk with the SEC and opt for registration.
He also stressed investor security as the market remains unregulated and lacks consequences to the dupers. The fact that the public sees profit based upon the efforts of some entrepreneur or computer-science group that raised money from investors or public fits in SEC’s broad remit.
Gensler has been maintaining a firm but viable stance on the crypto scene. After his September statement about regulations, he went on to say that although not all crypto tokens can be classified as security; at least some will likely be.