{"id":6639,"date":"2022-08-24T18:00:48","date_gmt":"2022-08-24T18:00:48","guid":{"rendered":"http:\/\/www.cryptoheretostay.com\/?p=6639"},"modified":"2022-08-24T18:00:49","modified_gmt":"2022-08-24T18:00:49","slug":"sec-chairman-says-crypto-should-be-treated-same-as-other-capital-markets","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=6639","title":{"rendered":"SEC Chairman Says Crypto Should Be Treated Same as Other Capital Markets"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>SEC Chairman Gary Gensler says that there is no need to treat the crypto market differently from other capital markets. Noting that \u201cthe SEC will serve as the cop on the beat,\u201d Gensler encouraged crypto trading and lending platforms \u201cto come in and talk to SEC staff.\u201d<\/strong><\/p>\n<h2>SEC Chairman Gensler on Crypto Regulation<\/h2>\n<p>The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, authored an opinion piece published in the Wall Street Journal Friday on how crypto assets should be regulated. He described:<\/p>\n<p>There\u2019s no reason to treat the crypto market differently from the rest of the capital markets just because it uses a different technology.<\/p>\n<p>\u201cRecent market events show why it is critical that crypto firms comply with securities laws,\u201d Gensler explained. \u201cIn recent months, some crypto lending platforms have frozen their investors\u2019 accounts or gone bankrupt. When it comes to bankruptcy, these investors have to get in line at the court.\u201d<\/p>\n<p>The SEC chief stressed that no matter what the financial product is, whether it is an app, a lending platform, a crypto exchange, or a decentralized finance (defi) platform:<\/p>\n<p>Across decades of cases, the Supreme Court has made clear that the economic realities of a product \u2014 not the labels \u2014 determine whether it is a security under the securities laws.<\/p>\n<p>While acknowledging that \u201cThere are costs of complying with securities laws, just as there are costs to car makers of adding seat belts,\u201d the SEC chairman pointed out that \u201cthere is a path forward.\u201d<\/p>\n<p>Gensler then reiterated that he encourages crypto trading and lending platforms \u201cto come in and talk to SEC staff,\u201d emphasizing that \u201cGetting these platforms into compliance with the securities laws will benefit investors and the crypto market.\u201d The SEC chief concluded:<\/p>\n<p>In the meantime, the SEC will serve as the cop on the beat. As with seat belts in cars, we need to ensure that investor protections come standard in the crypto market.<\/p>\n<p>Gensler recently outlined what to expect from the SEC on crypto regulation. He has been heavily criticized for taking an enforcement-centric approach to regulating the crypto market. The SEC boss also said that while bitcoin is a commodity, most crypto tokens have attributes of securities, warning that a lot of them will fail.<\/p>\n<p><em><strong>What do you think about the comments by SEC Chairman Gary Gensler? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/sec-chairman-says-crypto-should-be-treated-same-as-other-capital-markets\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SEC Chairman Gary Gensler says that there is no need to treat the crypto market differently from other capital markets. Noting that \u201cthe SEC will serve as the cop on the beat,\u201d Gensler encouraged crypto trading and lending platforms \u201cto come in and talk to SEC staff.\u201d SEC Chairman Gensler on Crypto Regulation The chairman [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6640,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-6639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6639"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6639\/revisions"}],"predecessor-version":[{"id":6641,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6639\/revisions\/6641"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/6640"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}