The SEC Chairman Made a Statement About DeFi and Stablecoins!

0
53

Gary Gensler, who participated in the DACOM Summit 2021 event online, made important statements. Previously blockchain and the SEC Chairman, who has made very moderate statements about crypto currencies, is also known as the one who approved the first-term Bitcoin ETF. He taught at MIT blockchain and Bitcoin we see from his lectures that he is not a stranger to this field either.

SEC Chairman Stablecoin Statement

Recognizing that stablecoins generate many benefits, Gensler acknowledges that they make significant contributions to the ecosystem. But besides the pluses it provides stablecoins he also does not hold back from reminding us that there are some negative aspects.

Gensler the negative aspects counted by are as follows:

  • Money laundering the convenience it provides, Gensler he thinks that some malicious people easily use stablecoins in money laundering activities.
  • Tax evasion if stablecoins it is one of the other malicious uses. The fact that money can be moved freely unregistered can cause states greater tax losses in the future.

In addition, the fact that stablecoin issuers are subject to unclear laws may also open the door to losses that investors may experience in the future. President Gensler, she was also showered with criticism on social media for not taking questions at the event she attended online.

SEC and DeFi

Gary Gensler, DeFihe believes that the can offer “real innovation”, but also continues to argue that the industry cannot survive without regulatory compliance. Head of the US Securities and Exchange Gary Gensler, He discussed some important details with Jay Clayton at the Digital Asset Compliance & Market Integrity Summit. The first of these stablecoins these are the comments he makes about.

Gensler believes that decentralized finance can be the source of innovation, while arguing that it should fall within the existing regulatory framework:

DeFi the novelty associated with it may be real, but they will not be permanent if they remain outside the regulatory framework”.

Gensler in addition, some DeFi he expressed concern about the centralization of his projects and hinted that the purpose of such projects may be to avoid existing anti-money laundering laws.

In other words, Gensler believes that decentralization can be exploited and DeFihe is also concerned about the centralization of the. Who wants to provide lending service cryptocurrency which also deals with companies SEC Chairman ”consult with us,” the message read. Who did this recently Coinbase, SEC he had been threatened with investigation by the.

Disclaimer Of Liability: The information contained in this article absolutely does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and they should conduct their transactions in accordance with their own research.
You can follow our news on our Telegram channel, Instagram, Facebook, Twitter accounts and Youtube channel.