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The head of the US exchange regulator, Gary Gensler, warned of a further collapse of the cryptocurrency market and urged exchanges to meet halfway.
Chairman of the US Securities and Exchange Commission (SEC) Gary Gensler believes that even more investors will soon suffer in the cryptocurrency market. This is written by The Wall Street Journal (WSJ).
According to the head of the SEC, the fall of cryptocurrencies can potentially undermine confidence in the market as a whole:
“I think many of the tokens will fail. I’m afraid that in the crypto market… a lot of people will suffer, and this will partially undermine confidence and confidence in the markets as a whole.”
At the same time, Gensler again repeated the theses of his predecessor Jay Clayton, who argued thatMost cryptocurrencies probably fit the legal definition of a security. However, he also hinted, that the exchange regulator can use its powers to create “exceptions where necessary,” the WSJ writes.
“There is a way forward that we are talking about with exchanges to register platforms and get development for tokens. They [биржи] have to register, or we’ll have to take action,” Gensler said.
This isn’t the first time Gensler has threatened cryptocurrency exchanges with regulatory measures. In January 2022, the head of the SEC called on the agency to pay special attention to the protection of investors in the cryptocurrency market.
At the same time, he said that if the sites do not meet the regulator halfway, then there will be “another dangerous year” for the market. However, what sanctions can be applied in case of refusal of cryptocurrency companies from the agreement with the exchange regulator remains unclear.
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