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Chairman of the US Stock Exchange Commission: The SEC does not ban bitcoin


Gary Gensler, chairman of the US Securities and Exchange Commission, has said the government cannot and does not intend to ban digital currencies.

to the Report During a meeting of the House Financial Services Committee yesterday, Chancellor Coin Telegraph stressed that banning digital currencies was not within the remit of the Exchange Commission, adding that it was up to Congress to address the issue.

Gencler said:

The question is how we can protect investors in this area. We are involved in this issue with banking supervisors and others [اشخاص مرتبط] We work together to ensure that the US Treasury Department complies with anti-money laundering and tax regulations. [این حوزه] Supervised.

The head of the US Stock Exchange Commission stressed the need to enter the field of digital currencies, adding:

Many of these tokens are compared to contracts and guarantees of investments and securities, and the protection of investors is one of the duties of the stock exchange commission.

Gensler also said that addressing the status of stable coins, which is linked to US financial stability, is one of the priorities of the Exchange Commission.

During the meeting, Patrick McHenry, a member of the US Congress, targeted the actions and stances of the Exchange Commission against digital currencies and accused Gensler of dealing with comments on regulations and instructions in accordance with the long-standing approach of this The agency has not acted.

The US Congressman told Gensler:

Some of your comments have raised questions about the market and are not entirely clear. You have apparently made shocking statements that have affected the market. You have issued a statement without going through the legal process, ignoring the legislation, and basically treating American investors ruthlessly.

In response to McHenry, Gansler said the stock exchange commission was following legal procedures.

McHenry also referred to Gansler’s comments in 2019 at a meeting of the US House Financial Services Committee. Gansler, who was teaching at MIT at the time, criticized previous US Securities and Exchange Commission rulings that classified bitcoin and Ethereum as commodities.

When asked by the chairman of the US Stock Exchange Commission about his recent comments, he said:

I do not want [به‌طور مشخص] Let me talk about a token, but I think the rules of securities are quite clear. If [از طریق یک دارایی] You make money and expect a reasonable return on your investment based on the activities of others. [آن دارایی] Is subject to the Securities Act.

On the day of the meeting, McHenry presented a draft law on “Digital Currency Transparency”, which is very similar to the “Digital Currency Safe Zone” plan, which was introduced in February 2020 by Hester Peirce, a senior official. Presented by the US Securities and Exchange Commission and a supporter of digital currencies. Under the Digital Currencies Safe Zone scheme, decentralized network developers would not be involved in legal matters for three years and would only have to disclose the information that investors need to buy digital currencies.

During the meeting, McHenry pressured Gensler with the question of whether he had taken the time to consider the Pierce Digital Currency Safe Zone scheme.

Gansler avoided answering this question directly, but said:

Pierce and I talked about his views on [طرح] We’ve talked about the potential safe haven of digital currencies. I imagine a challenge [اصلی] For the American people, if we do not monitor this area and do not support investors, people will be affected.

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