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If crypto exchanges and lending platforms are not brought inside the policy structure, "a lot of people will get harmed," U.S. Securities and Exchange Compensation Chair Gary Gensler indicated before your house Financial Services Committee.
" If we don't get these [crypto] exchanges, providing platforms inside the public plan framework, a lot of individuals will certainly get harmed," Gensler stated on Tuesday. "It is a highly speculative idea that a token [professions] on the potential that in the future it may be worth something due to the fact that others will certainly spend for [it]".
Gensler was smoked on threats connected with crypto trading, the popularity of retail investing, and the looming financial obligation ceiling crisis.
On whether the SEC could ever prohibit crypto trading like China, Gensler replied that any restrictions "would certainly depend on Congress.".
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SEC's Gensler: 'A lot of people will get hurt' if crypto remains outside of policy framework
If crypto exchanges and lending platforms are not brought inside the policy framework, "a lot of people will get hurt," U.S. Securities and Exchange Commission Chair Gary Gensler testified before the House Financial Services Committee.
"If we don't get these [crypto] exchanges, lending platforms inside the public policy framework, a lot of people will get hurt," Gensler said on Tuesday. "It is a highly speculative idea that a token [trades] on the potential that in the future it might be worth something because others will pay for [it]."
Gensler was grilled on risks associated with crypto trading, the popularity of retail investing, and the looming debt ceiling crisis.
On whether the SEC could ever ban crypto trading like China, Gensler replied that any bans "would be up to Congress."
__________________________________________________________________
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