SEC chief announced his willingness to cooperate with other agencies to regulate cryptocurrencies

Gary Gensler supported the investor protection provisions adopted in Joe Biden’s executive order

10.03.2022 - 09:20

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2 min

What’s new? The head of the US Securities and Exchange Commission (SEC), has posted a tweet in which he announced the regulator’s willingness to cooperate with all US agencies to oversee the cryptocurrency market.

Source: Twitter.com

“Today, Joe Biden signed an executive order on crypto-assets. I look forward to collaborating with colleagues across the government to achieve important public policy goals: protecting investors and consumers, guarding against illicit activity, and helping ensure financial stability,” the SEC chief said.

What had happened before? On March 9, the White House released a government-wide strategy for regulating the cryptocurrency industry. The main emphasis in the document is on protecting investors when dealing with digital currencies, as well as limiting the use of cryptocurrencies in illegal transactions.

How did the community react? Gary Gensler’s tweet was a response to the publication of the document. In the comments to the tweet, a number of users expressed a negative attitude to the position of the SEC head. The most interesting comment was a statement on behalf of Bitcoin Is Saving, which wrote that social security is a Ponzi scheme, treasury bonds have negative yields, and fiat currencies face hyperinflation.

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