Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), said he believes blockchain is a catalyst for change.
According to CoinDesk US reports, the nominee Gensler attended the US Senate Financial Committee hearing on the 2nd (local time) and said, “Although cryptocurrencies including bitcoin have opened new horizons in settlement and financial inclusion, various investor protection issues are also present It has occurred,” he said. “The agency should provide the appropriate regulation.”
Gensler is from Goldman Sachs, an investment bank in the United States, and is known to have a high understanding of blockchain as well as finance. In 2019, he taught blockchain and cryptocurrency at the Massachusetts Institute of Technology (MIT) Sloan School of Business.
He also said at this hearing that blockchain technology could provide lower cost international remittances and could be used for medical records, trade finance, and other data management purposes. In addition, he said he will promote new innovations based on these technological possibilities.
Gensler promotes innovation Cryptocurrency will be fully incorporated into the area of national regulation.Also revealed aspirations. If the cryptocurrency is a product like bitcoin, it can be overseen by the Commodity Futures Trading Commission or Congress, and if it is subject to the securities law, it can be regulated by the SEC.
He emphasized that as cryptocurrency grows, it is important to adhere to the principle of investor protection and capital formation.It is also important for the SEC to provide major rules in advance or provide guidance to the market in advance using no-action letters. did.
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