{"id":315002,"date":"2021-08-03T22:00:47","date_gmt":"2021-08-03T19:00:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gensler-says-cryptocurrency-investors-need-more-protection\/"},"modified":"2021-08-03T22:00:47","modified_gmt":"2021-08-03T19:00:47","slug":"gensler-says-cryptocurrency-investors-need-more-protection","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gensler-says-cryptocurrency-investors-need-more-protection\/","title":{"rendered":"#Gensler says cryptocurrency investors need more protection"},"content":{"rendered":"

“#Gensler says cryptocurrency investors need more protection<\/strong>”<\/p>\n

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The chairman of the Securities and Exchange Commission said that investors need more protection in the cryptocurrency market, which he said is \u201crife with fraud, scams and abuse.\u201d<\/p>\n

Gary Gensler, app<\/a>ointed by President Joe Biden to lead the body that regulates securities markets, listed several areas where crypto needed to be reigned in or regulated, particularly with regard to money laundering, sanctions, tax collection and extortion via ransomware.<\/p>\n

\u201cRight now, we just don\u2019t have enough investor protection in crypto,\u201d Gensler said in remarks to the Aspen Institute\u2019s forum on security, \u201cFrankly, at this time, it\u2019s more like the Wild West.\u201d<\/p>\n

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\"Gary
SEC Chairman Gary Gensler is seen as receptive toward cryptocurrency \u2014 for the most part.<\/figcaption>
Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n

Digital currencies, like Bitcoin, have been left largely unregulated by major governments up to this point. In June, China ordered cryptocurrency mining operations shut down and banks started refusing to help customers with Bitcoin transactions. Although the SEC has brought and won dozens of cases against fraudsters, Gensler said the agency needs more authority from Congress \u2014 and more resources \u2014 to regulate the crypto markets.<\/p>\n

Gensler has been viewed as receptive toward cryptocurrency and other new financial technologies after a stint as a professor at MIT, where he focused his research and teaching on public policy as well as digital currencies and blockchain, the global running ledgers of digital currency transactions.<\/p>\n

A Goldman Sachs employee for 20 years, Gensler surprised many with his toughness as a regulator at the Commodity Futures Trading Commission during the Obama administration.<\/p>\n

Tuesday\u2019s event marked the first time the nonprofit Aspen Institute included a discussion about cryptocurrency in the forum on national security.<\/p>\n

Gensler opened his remarks by saying he was not speaking on behalf of the SEC or its staff, but that he personally believes that regulation of cryptocurrencies would fall under his agency\u2019s purview.<\/p>\n<\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Gensler says cryptocurrency investors need more protection” The chairman of the Securities and Exchange Commission said that investors need more protection in the cryptocurrency market, which he said is \u201crife with fraud, scams and abuse.\u201d Gary Gensler, appointed by President Joe Biden to lead the body that regulates securities markets, listed several areas where crypto…<\/p>\n","protected":false},"author":1,"featured_media":315003,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/sized-crypto.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,113371,76127,72976],"class_list":["post-315002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-8-3-21","tag-cryptocurrency","tag-securities-and-exchange-commission"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/315002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=315002"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/315002\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/315003"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=315002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=315002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=315002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}