Securities and Exchange Commission (SEC) Chairman Gary Gensler emphasized the importance of transparency in financial markets in a speech at a Columbia Law School conference.according to Gary Gensler, disclosure plays an important role in efficient markets and investor protection. He pointed out that the lack of registration in the crypto securities market has led to a lack of mandatory disclosure. Gensler reiterated the SEC's position, saying the cryptocurrency industry should follow existing financial market regulations to ensure transparency and safety.
The SEC Commissioner's statement comes as discussions continue on how to regulate cryptocurrencies. This is Gensler's view that all companies involved in digital currencies must register with the SEC, likening the need for regulatory clarity in the virtual currency market to applying a “sanitizer.” Gensler therefore expressed concern about the current lack of transparency in cryptocurrencies and the potential dangers it poses to investors.
Gary Gensler asserts his authority: Cryptocurrency companies face regulatory crackdown
Enhancing regulatory compliance in the cryptocurrency sector has been a major focus of the SEC for more than a year.Authorities’ efforts to classify and regulate virtual currency exchanges and companies such as: coinbasekraken, and Binancetraditional financial institutions are highlighted, as are several high-profile cases.
These measures are based on the premise that cryptocurrency businesses cannot circumvent regulations governing mainstream finance. Gary Gensler's statement This reflects what he said about his efforts to bring the cryptocurrency market into line with a framework of regularity, despite resistance from some in the digital currency world who argue that it would be difficult to register with the SEC.
SEC introduces climate change disclosure rules
Aside from cryptocurrencies, Gensler also spoke about extensive disclosure requirements. He cited executive remuneration rights, climate change and cyber risks as important factors that need to be disclosed. The SEC recently introduced rules requiring companies to disclose climate-related risks, demonstrating the commission's commitment to transparency across all financial market sectors. As such, the SEC requires comprehensive disclosure requirements to protect investors and ensure the integrity of financial markets.
Gary Gensler has also been vocal about his skepticism about investing in cryptocurrencies. He compared Bitcoin's volatility to a roller coaster and emphasized the need for fundamental valuation of these assets. His critique comes at a critical time when the market is anticipating new product launches. Spot Bitcoin ETF. Gensler's comments reflect broader regulatory efforts to bring transparency and stability to the rapidly growing cryptocurrency market.
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