Translation SEC Chairmans Cryptic Birthday Wish to Bitcoin No Comment on Trumps Dismissal and WLF
SEC Chairman Gary Gensler’s stance on cryptocurrency has been inconsistent since taking office in 2021. In a recent interview, Gensler stated that the SEC will continue to regulate cryptocurrencies through enforcement actions, while also wishing Bitcoin a happy 16th birthday.
Gensler began the interview by congratulating Bitcoin on its 16th birthday and commending its development since its inception in 2008. However, he emphasized that the SEC’s regulatory approach to cryptocurrencies will not change, as it aims to protect investor rights and promote market development.
Gensler believes that blockchain technology, such as Bitcoin, is not in conflict with existing securities laws and can coexist. He stated that the key issue lies in whether the cryptocurrency market can achieve information transparency. Additionally, Gensler mentioned the presence of conflicts of interest in the cryptocurrency market, which may lead to unfair practices that harm investors’ interests.
Gensler also mentioned that the SEC is undertaking various regulatory reforms, including core markets such as government bonds and stocks. The goal of these reforms is to reduce costs, increase market transparency, and enhance stability through market competition.
While over 40 reform plans have been completed in the past three years, Gensler mentioned that there are still many rules under study and development. Regarding concerns about whether the SEC relies solely on enforcement actions for regulation, Gensler stated that the SEC has always regulated based on legal judgments but ultimately needs Congress to establish more explicit regulations to assist their work.
During the interview, Gensler declined to comment on his views on the 2024 US presidential election, particularly regarding former President Trump’s promise to dismiss him if elected. He also did not express any opinion on Trump’s World Liberty Financial project.
(Gary Gensler confirmed to be out? Insiders reveal that Janet Yellen is considering two candidates to replace SEC Chairman)
Gary Gensler
SEC Chairman
WLF
Trump
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