2023-07-03 16:17:49
The crypto industry has chosen an enemy: The American Securities and Exchange Commission and its boss Gary Gensler. Under his supervision, the crypto exchanges are strictly regulated, there are conditions, bans and lawsuits. So it is hardly surprising that relevant crypto fans spread fake news over the weekend that Gensler had resigned.
And it’s really striking: Exchange regulators are cracking down on the world’s largest crypto exchange, Binance, as well as its listed competitor, Coinbase. Several exchange-traded index funds on Bitcoin have now been rejected, and lawsuits are also pending against the SEC. Elsewhere, there have already been stories of a war by Gensler against the crypto industry. This tough approach is a win-win situation for all sides. It is a win for investors because they are protected and can be sure: If a crypto exchange or fund has been approved, by normal standards they are similarly safe as stock exchanges or funds. Why should the overseers use double standards here? And when in doubt, the following also applies here: Better to be too careful and strict than to have a rotten egg in the nest.
Franz Nestler Published/Updated: , Christian Siedenbiedel Published/Updated: , Recommendations: 13 Christoph Hein Published/Updated: , Recommendations: 2
Conversely, the strict handling of the SEC for the crypto exchanges and fund providers is also an advantage: Once an ETF or a marketplace is approved with the SEC seal, it can also be used to advertise customers. The entire industry can then benefit from this.
#serenity #wardens #good