Gary Gensler News

Cryptocurrency assets are highly speculative and investors in them need more protections or they could lose trust in the markets, Gary Gensler, chair of the U.S. Securities and Exchange Commission, said on Monday. Generally, people who buy cryptocurrencies do not get the disclosures they get when they make other asset purchases around things like whether the trading platform they are using is actually trading against them, or whether they actually own the assets they store in digital wallets, Gensler said. «We have this basic bargain: You the investing public can make your choices about the risk you take, but there is supposed to be full and fair disclosure, and people are not supposed to lie to you,» he said at the Financial Industry Regulatory Authority's annual conference in Washington.

US SEC's Peirce sees 'movement' on stablecoin regulations

The U.S. SEC Chair Gary Gensler criticized stablecoins and digital asset exchanges for trading against their customers. This criticism comes at a low point for the crypto market which is currently going through a rough patch. Headlining the dip was Terra labs, which saw its stablecoin take a massive blow of a 90% drop.

The annual meeting of the International Swaps and Derivatives Association (ISDA) began Wednesday in Madrid. United States Securities and Exchange Commission (SEC) chairman Gary Gensler and U.S. Commodity Futures Trading Commission (CFTC) chairman Rostin Behnam were both featured as keynote speakers at the event, with Behnam speaking at the morning session, and Gensler in the afternoon.  

Securities and Exchange Commission chair Gary Gensler said that crypto assets count as a “security contract”, which falls under the securities umbrella and therefore within the purview of the SEC.

The United States Securities and Exchange Commission (SEC) announced Tuesday that it would nearly double the number of personnel responsible for safeguarding investors in cryptocurrency markets. 

"The US has the greatest capital markets because investors have faith in them, and as more investors access the crypto markets, it is increasingly important to dedicate more resources to protecting them," says SEC Chair Gary Gensler. "The Division of Enforcement’s Crypto Assets and Cyber Unit has successfully brought dozens of cases against those seeking to take advantage of investors in crypto markets.

The securities regulator said the division will have a total of 50 employees.

The Securities and Exchange Commission announced Tuesday that it will almost double its staff responsible for protecting investors in cryptocurrency markets.

The United States Securities Exchange Commission (SEC) and its Chairman Gary Gensler have received a slew of letters from pressure groups and parliamentarians voicing their concerns about proposed amendments to the Exchange Act, established in the 1930s. The agency plans to expand the legal definition of what an exchange is.

Ranking member of the United States House Financial Services Committee Patrick McHenry and ranking member of the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets Bill Huizenga sent a letter Monday to Securities Exchange Commission (SEC) Chairman Gary Gensler to express their concerns about proposed SEC amendments to the Exchange Act of 1934 that would expand the definition of an exchange and the phrase “as a part of regular business.” The congressmen said the changes could stifle innovation in the digital asset ecosystem.

The world of digital assets saw a significant rise last year. The total cryptocurrency market cap reached $3 trillion, making more people, governments and universities take a closer look at the asset class.

Last week, there was a lot of regulatory talk about crypto-related risks. While this is very common in itself, some angles and proposed solutions to such risks came across as novel. In the United States, the Federal Deposit Insurance Corporation (FDIC) issued a letter to commercial and savings banks under its purview, or all federally chartered banks, asking financial institutions to notify the FDIC about all ongoing and planned crypto-related activities. Apparently, standardized guidance for all banks would not fit the bill since the risks seem to be unique in each case.

United States President Joe Biden is reportedly planning to nominate two commissioners to the Securities and Exchange Commission with different political party affiliations.

SEC Chair Gary Gensler revealed the collaborative crypto regulation plans through a speech delivered during the Penn Law Capital Markets Association’s annual conference on 4 April. The speech underscored the importance of regulators in ensuring financial stability, investor protection, fair, orderly, and efferent markets.

Platforms for cryptocurrency trading and lending should be registered and regulated like traditional securities exchanges, argues U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler.On April 4, 2022, he announced that SEC staff is working on this during his keynote address to a conference on digital assets, cryptocurrency, and blockchain held by the University of Pennsylvania Carey School of Law.

The Securities and Exchange Commission is studying ways to make it more feasible for cryptocurrency trading platforms to register with the agency as exchanges, chairman Gary Gensler said on 4 April.

Gary Gensler, chair of the United States Securities and Exchange Commission, said the agency’s protections that apply to investors of traditional assets should extend to those in the crypto market.

The Securities and Exchange Commission on Wednesday debuted a host of new rules for SPACs that, if enacted, would mark one of the broadest attempts to date at cracking down on the hot market for blank-check companies.

In a bipartisan letter put forward by Republican Minnesota Congressman Tom Emmer, a cohort of Congress members has written to Securities and Exchange Commission (SEC) Chairman Gary Gensler, challenging the regulator's scrutiny of cryptocurrency firms and expressing concern that “overburdensome” investigation may be suffocating the crypto industry. 

Securities and Exchange Commissioner Allison Herren Lee announced that she would be stepping down from her post at the end of her term in June.