Sign Up on MEXC
Highlights
- SEC Chair Gary Gensler speaks on crypto regulation in a recent interview with CNBC.
- Gensler gives reasons behind issuing Wells notice to Robinhood.
- Gensler talks on Ethereum's security chronicle.
SEC Chair Gary Gensler’s recent interview with CNBC has sparked a global frenzy across the crypto horizon. His insights on pressing issues such as Robinhood’s Wells notice and the Ethereum security lawsuit, which could potentially shape an ETH ETF, have captivated significant attention among crypto market participants.
SEC Chair On Crypto Regulation
In his interview with CNBC today, Gensler stated that cryptocurrency is a small piece of U.S. markets. However, it is staged as an outsized piece of scams and fraud in the trading sphere.
Gensler observes that a significant portion of the cryptocurrency field operates noncompliantly, breaching protections and security laws, which is a matter of concern. He also noted that the mainstream financial media tends to overlook the vast capital markets, valued at $110 trillion, and instead focuses on the more minor, more scrutinized part under regulatory authorities’ watch.
Simultaneously, talking about Robinhood’s receiving of a Wells notice, CNBC spotlighted Vlad Tenev’s (CEO and Co-founder of Robinhood) post on X, which aimed to slam the U.S. SEC for stifling crypto innovation. Concerning this, Gensler’s attention was brought to Coinbase CEO and co-founder’s reply to Tenev’s post, stating, ‘ Welcome to the club.’
The Chair replied that the U.S. SEC is responsible for being a cop on the beat to ensure proper regulation surrounding entities offering securities trading services. The Wells notice is a testament to this and was hence issued to Robinhood. Meanwhile, Gensler also asserted that many tokens are securities by the law of the land, eyeing the issuance of a Wells notice to Robinhood while also adding to speculations surrounding Ethereum.
Also Read: Revolut Unveils UK Crypto Exchange Amid Digital Asset Surge
Gensler On Ethereum’s Security Status
On the other hand, when asked about the U.S. SEC’s view of Ethereum’s future status as a security, Gensler replied that investor protection remains the top priority, and refrained from offering a definite answer. Currently, American investors are not getting enough disclosure and intermediaries of this market, Gensler stated
These comments on Ethereum’s future status as a security have left a veil of uncertainty, potentially impacting the launch of an ETH ETF. In the interim, Gensler also rationalized allegations of misleading congress in his interview with CNBC.
Also Read: Just-In: Shiba Inu (SHIB) Bags Nexo Listing, Will SHIB Price Rally
- SEC’s Paul Atkins Pushes for On-Chain Capital Raising Without Uncertainty
- SEC Delays Decision On Staking For BlackRock’s Ethereum ETF
- SEC Delays Decision on Franklin Templeton’s Solana and XRP ETFs
- BNB Hits New ATH As Binance Partners With $1.6T Franklin Templeton
- Crypto Market, S&P 500 Rally as PPI Data Fuels Rate Cut Hopes
- Pump Price Forecast as $12M Buyback Fuels Scarcity — Is $0.01 in Sight?
- SUI Price Prediction as Mysten Labs Meets SEC Ahead of ETF Decision—Is $7.5 Next?
- Can Dogecoin Price Hit $1 as Derivative Volume Jumps Ahead of DOGE ETF Launch
- Bitcoin Price Prediction Eyes $150K as Trump Calls for Aggressive 100 BPS Rate Cut
- Solana Price Prediction: Can Nasdaq Listing and $94M Holdings Propel SOL Toward $400?
