Investing in cryptos is not without risk and sometimes it seems like the Wild West, which is why several agencies are advocating for investment protection.
In America they are a step further and they are thinking of far-reaching regulations. This is to protect people from scams, but also to be able to tax the transactions. The Securities and Exchange Commission, also abbreviated as SEC, is the US regulator of the various stock exchanges, based in Washington DC And he also has an opinion about this.
Investment protection crypto investors
SEC Chairman Gary Gensler says there is no need to treat the crypto market differently from other capital markets. Noting that “the SEC will serve as the agent,” Gensler encouraged crypto trading and lending platforms “to come in and talk to SEC personnel.”
US Securities and Exchange Commission (SEC) chairman Gary Gensler wrote an op-ed published in the Wall Street Journal on how crypto assets should be regulated. He said “recent market events show why it is critical that crypto companies comply with securities laws.” He emphasizes that there are costs associated with this. He provided an example for this. Namely that there is also a cost for automakers to add seat belts, but they do it anyway. That should be the case in the crypto world too.
Standard
The protection should be incorporated by default in the crypto market. Just like the aforementioned seat belts on cars. Gensler recently outlined what to expect from the SEC on crypto regulation. He has been heavily criticized for taking an enforcement-oriented approach to regulating the crypto market. The SEC chief also said that while Bitcoin is a commodity, most crypto tokens have securities characteristics, warning that many of them will fail.
Also interesting!
-
‘Slaughtering pigs’ increasingly popular with cryptos -
Crypto con man is wanted by the FBI -
Ozzy Osbourne NFT Scam: Thousands of Victims Lose Money -
Don’t fall for crypto scams with these tips!
