Former chairman of the Commodity Futures Commission () Gary Gensler said that the market needs in order to grow, because consumers must be protected. Gensler shared his views with Cointelegraph at the Business of event at the Massachusetts Institute of Technology on May 2.
Speaking about the perspective on such services and products as custody and () exchange-traded funds (), Gensler argued that for the market to prosper and potentially grow, investors should know that they have both investor and consumer protection embodied in the law in case of market manipulation or losing of private keys, among other issues.
When asked whether a would be impactful if approved, Gensler stated “the Securities and Exchange Commission [] is doing their work to ensure that if there is an exchange-traded fund, that the markets themselves for those exchange-traded funds and the underlying or it’s referencing is not really susceptible to manipulation.”
According to Gensler, it is important to make sure markets are appropriately overseen and sufficiently mature, and that the chance of manipulation is small or very limited.
At the MIT Expo 2019 in March, Gensler arguments in favor of extending national level over a broader spectrum of crypto , coordinating money laundering prevention and addressing the current regulatory and enforcement discrepancies across different states.
At the same conference, Commissioner Hester M. Peirce advocated for a lighter regulatory touch when possible, while affirming that security offerings must comply with the ’s registration requirements.
Yesterday, current CFTC chairman Christopher Giancarlo that the agency is expecting more applications to open clearinghouses, driven by increased interest in , particularly .
Published at Fri, 03 May 2019 01:37:52 +0000
