{"id":11908,"date":"2024-03-23T11:06:56","date_gmt":"2024-03-23T09:06:56","guid":{"rendered":"https:\/\/forklog.com\/en\/gary-gensler-criticizes-crypto-firms-for-avoiding-registration\/"},"modified":"2024-03-23T11:06:56","modified_gmt":"2024-03-23T09:06:56","slug":"gary-gensler-criticizes-crypto-firms-for-avoiding-registration","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/gary-gensler-criticizes-crypto-firms-for-avoiding-registration\/","title":{"rendered":"Gary Gensler Criticizes Crypto Firms for Avoiding Registration"},"content":{"rendered":"<p>Gary Gensler, Chairman of the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>, stated during a speech at Columbia Law School that cryptocurrency companies need &#8220;a little disinfectant.&#8221; This was reported by <a href=\"https:\/\/www.theblock.co\/post\/284208\/sec-chair-gary-gensler-says-crypto-markets-could-use-a-little-disinfectant\">The Block<\/a>.<\/p>\n<p>He noted that disclosure by financial companies ensures market efficiency and investor protection, yet some in the crypto industry seek to evade registration requirements.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;A lack of registration means a lack of mandatory disclosure. Many would agree that the crypto market could use a little disinfectant,&#8221; Gensler stated.<\/cite><\/p><\/blockquote>\n<p>Over the past year, the SEC has filed lawsuits against major bitcoin exchanges Binance, Coinbase, and <a href=\"https:\/\/forklog.com\/en\/news\/kraken-challenges-sec-lawsuit-as-a-dangerous-precedent\">Kraken<\/a>. The platforms were accused of, among other things, violating securities laws.<\/p>\n<p>Coinbase has been urging the regulator to develop clear rules for the industry for several years. In July 2022, the company filed a petition with the SEC, and in April 2023, it turned to the courts. Gensler dismissed the complaints, stating that existing laws apply to digital assets.<\/p>\n<p>In March 2024, a Coinbase support group called on the SEC to implement rules for the crypto industry.<\/p>\n<p>Earlier, Gensler compared bitcoin to a rollercoaster, reminding of the high volatility of the first cryptocurrency and urging investors to exercise caution.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gary Gensler, Chairman of the SEC, stated during a speech at Columbia Law School that cryptocurrency companies need &#8220;a little disinfectant.&#8221; This was reported by The Block. He noted that disclosure by financial companies ensures market efficiency and investor protection, yet some in the crypto industry seek to evade registration requirements. &#8220;A lack of registration [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11907,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1181,1138,36,128],"class_list":["post-11908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-gary-gensler","tag-opinions","tag-regulation","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=11908"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11908\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/11907"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=11908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=11908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=11908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}