2024-01-12 12:42:11
Par Ingrid Vergara
Published yesterday at 6:45 p.m., Updated 1 minute ago
Gary Gensler.
DREW ANGERER/Getty Images via AFP
ANALYSIS – Despite his intact skepticism, the president of the Securities and Exchange Commission (SEC) could not do anything other than give a green light.
This is one of the ironies of which history has the secret. Gary Gensler, the president of the American financial markets watchdog, will remain as the man who opened the doors of Wall Street to bitcoin. However, he has been one of the harshest voices against the cryptocurrency sector since his arrival as chairman of the Securities and Exchange Commission (SEC) in April 2021.Although we today approve the listing and trading of certain bitcoin-based investment products, we have neither approved nor supported bitcoin» he was careful to specify at the conclusion of the press release detailing the decision.
Despite his intact skepticism, Gary Gensler could not do anything other than give a green light. Between 2018 and March 2023, the SEC had refused applications for such investment products, physically backed by a cryptocurrency, on more than 20 occasions. In the name of investor protection, the institution estimated volatility, risks of manipulation, etc.
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