SEC Chair Gensler Says Crypto Will Not Persist Without Investor Protection: ‘The Automobile Wouldn’t Have Survived If You Didn’t Have Traffic Lights’
Posted On September 26, 2024
U.S. Securities and Exchange Commission Chair Gary Gensler emphasized the critical need for investor protection in the crypto industry, stating that the sector will struggle to survive without it. He also reaffirmed that Bitcoin is not classified as a security, marking a significant point of clarity amid ongoing regulatory debates.
What Happened: “This field will not long persist if you can’t build that investor trust in the markets,” Gensler said in an interview with CNBC, reinforcing his stance on the importance of regulatory oversight to foster a stable and trustworthy crypto environment.
Gensler compared the evolution of cryptocurrencies to other innovations, noting, “The …
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