Ensuring Compliance in the Cryptocurrency Market
According to reports, Gary Gensler, chairman of the Securities and Exchange Commission (SEC), said that since ancient times, the financial world has been based…
According to reports, Gary Gensler, chairman of the Securities and Exchange Commission (SEC), said that since ancient times, the financial world has been based on trust and the rule of law. In addition, from banks to stock exchanges, finance has tended to be centralized and interconnected. The encryption market is no exception. First of all, intermediaries and tokens should comply appropriately by themselves. The business structure of cryptocurrency intermediaries should comply with our laws governing stock exchanges, broker-dealers and clearinghouses; They can develop rulebooks to prevent fraud and manipulation. The cryptocurrency security issuer shall submit a registration statement and make necessary disclosure.
Chairman of the SEC of the United States: Let cryptocurrency companies work within the scope of the law
Analysis based on this information:
Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), recently emphasized the importance of trust and the rule of law in the financial world. He explained that the financial industry has historically been centralized and interconnected, and the encryption market is no different. In order to ensure that the encryption market operates within the bounds of the law, Gensler believes that both intermediaries and tokens must actively comply with regulations.
Gensler states that the business structure of cryptocurrency intermediaries should comply with laws that govern stock exchanges, broker-dealers, and clearinghouses. This will ensure that they develop rulebooks that prevent fraud and manipulation, safeguarding the interests of investors. This call for regulatory compliance is important in light of the increased frequency of cryptocurrency scams and fraud cases over the past few years. This will require intermediaries to be transparent in their operations, disclose any risks, and conduct regular audits.
In addition, the chairman pointed out that cryptocurrency security issuers should follow relevant regulations and submit a registration statement. The SEC will look closely at these statements to ensure that any necessary disclosures are made. This will help investors make informed decisions based on full and accurate disclosure and will reduce the risk of fraud or misconduct on the part of issuers.
In conclusion, Gary Gensler’s message emphasizes the importance of following regulations and ensuring compliance in the cryptocurrency market. By doing so, intermediaries, tokens, and issuers can maintain the trust of investors and prevent fraud, manipulation, and other forms of misconduct. This call for compliance is necessary to ensure the healthy, long-term growth of the encryption market.
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