SEC chair urges regulators to protect investors

Federal financial regulators should be ready to bring cases involving cryptocurrencies and new technologies. This stated by Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC).

During remarks at the annual FINRA conference, the agency’s head emphasized investor protection.

“We must do everything possible to ensure that criminals do not meddle with the savings of working families, and that the rules are enforced aggressively and consistently,” said the head of the regulator.

Earlier, in his capacity as a candidate for the SEC chair, Gensler spoke positively about blockchain, Bitcoin and cryptocurrencies. He also described digital gold as “a catalyst for change”.

On April 14, 2021 the U.S. Senate approved his nomination as head of the agency.

SEC Commissioner Hester Peirce said that a Gensler chairmanship could be “a very productive period” for the crypto industry.

In May Gensler urged Congress to clarify regulation of the cryptocurrency industry, including bitcoin exchanges.