{"id":35793,"date":"2022-09-12T00:25:16","date_gmt":"2022-09-12T04:25:16","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=35793"},"modified":"2022-09-12T00:25:19","modified_gmt":"2022-09-12T04:25:19","slug":"gary-gensler-i-want-disclosures-from-crypto-issuers","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/gary-gensler-i-want-disclosures-from-crypto-issuers\/","title":{"rendered":"Gary Gensler: “I Want Disclosures From Crypto Issuers”"},"content":{"rendered":"\n
Ashley Ebersole, who used to work at the agency, said in “All About Bitcoin<\/a>” that Gary Gensler says digital asset companies would report in a different way than publicly traded companies do.<\/h5>\n\n\n\n
\"SEC
SEC Chairman Gensler: “I Want Disclosures From Crypto Issuers”<\/figcaption><\/figure>\n\n\n\n

U.S. Gary Gensler, the head of the Securities and Exchange Commission<\/a>, wants cryptocurrency issuers to disclose information. However, he knows that this could be done differently than how publicly traded companies do it now, a former SEC lawyer named Ashley Ebersole reports in “All About Bitcoin.””<\/p>\n\n\n\n

Ebersole's comments were in response to an interview Gensler did earlier on Thursday with Nikhilesh De, who is in charge of global policy and regulation for a crypto news platform.<\/p>\n\n\n\n

Gensler “recognized that disclosure in the crypto as a context may not look the same\u2026 you're not going to get a 10-K or 10-Q every period from an issuer,” Ebersole said, referring to the annual and quarterly financial reports<\/a> that publicly traded companies must file with the SEC.<\/p>\n\n\n\n

“The technology makes it unnecessary. In many cases, a lot of this is very clear. So it's kind of case by case, but he knows there may be a difference here, and he's open to that “Ebersole said.<\/p>\n\n\n\n

Ebersole, who is now the chief legal officer at software company 0x Labs, says that the SEC's approach makes it hard for the agency to talk to cryptocurrency issuers.<\/p>\n\n\n\n

“The SEC hasn't really shown that it wants to just talk about things that might not lead to enforcement action,” he said. “Projects are done with great care.”<\/p>\n\n\n\n

Ebersole said that “something like Commissioner Peirce's Safe Harbor proposal” is what should be done to solve this problem.<\/p>\n\n\n\n

Hester Peirce, an SEC commissioner, came up with a plan that would give developers a three-year grace period and require updates every six months as well as an exit report.<\/p>\n\n\n\n

“Something that would let projects come in and talk openly without worrying that the next letter or communication they get from the SEC will be a subpoena” is probably what Ebersole meant when he said that something would be needed.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ashley Ebersole, who used to work at the agency, said in “All About Bitcoin” that Gary Gensler says digital asset companies would report in a different way than publicly traded companies do. U.S. Gary Gensler, the head of the Securities and Exchange Commission, wants cryptocurrency issuers to disclose information. However, he knows that this could […]<\/p>\n","protected":false},"author":39,"featured_media":35795,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[132,1920,3955],"class_list":["post-35793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-gary-gensler","tag-securities-and-exchange-commission"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/09\/image-74.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/35793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=35793"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/35793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/35795"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=35793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=35793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=35793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}