{"id":3643,"date":"2021-05-21T00:20:40","date_gmt":"2021-05-20T23:20:40","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=3643"},"modified":"2021-05-21T00:20:45","modified_gmt":"2021-05-20T23:20:45","slug":"gensler-says-sec-should-be-ready-to-bring-cases-involving-crypto","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/gensler-says-sec-should-be-ready-to-bring-cases-involving-crypto\/","title":{"rendered":"Gensler Says SEC Should Be \u2018Ready to Bring Cases\u2019 Involving Crypto"},"content":{"rendered":"\n
U.S. Securities and Exchange Commission (SEC) chief Gary Gensler said Thursday that federal financial regulators should \u201cbe ready to bring cases\u201d against bad actors in crypto<\/a> and other emerging technologies.<\/h5>\n\n\n\n
\"Gensler<\/figure>\n\n\n\n

\u201cAs we continue to stay abreast of those developments, the SEC and FINRA [the Financial Industry Regulatory Authority] should be ready to bring cases involving issues such as crypto, cyber, and fintech,\u201d Gensler\u00a0told\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>\u00a0FINRA conference attendees. He highlighted investor protection throughout his brief remarks.<\/p>\n\n\n\n

The statements come as federal agencies propose upgrades to their crypto-monitoring efforts, from the IRS asking businesses to\u00a0disclose\u00a0high-value transactions to lawmakers calling for\u00a0reviews\u00a0of crypto-friendly banking policies.<\/p>\n\n\n\n

\u201cWe need to do whatever we can to ensure that bad actors aren\u2019t playing with working families\u2019 savings and that the rules are enforced aggressively and consistently,\u201d Gensler said.<\/p>\n\n\n\n

He said regulators should be ready to pursue deceptive private funds, accounting fraud, insider trading and a bevy of other potential regulatory pitfalls rippling throughout the capital markets.<\/p>\n\n\n\n

While hardly offering a playbook, Gensler\u2019s remarks may bolster the perception that investor protection is a top priority for the Biden Adminstration\u2019s SEC \u2013 especially when it comes to crypto.<\/p>\n\n\n\n

Perhaps more telling was the SEC\u2019s May 11\u00a0warning\u00a0to investors in mutual funds that trade\u00a0bitcoin\u00a0futures. Though it contained no allegations of fraud, the memo highlighted bitcoin\u2019s legendary volatility and instructed SEC staff to consider suspicious activity in the space.<\/p>\n","protected":false},"excerpt":{"rendered":"

U.S. Securities and Exchange Commission (SEC) chief Gary Gensler said Thursday that federal financial regulators should \u201cbe ready to bring cases\u201d against bad actors in crypto and other emerging technologies. \u201cAs we continue to stay abreast of those developments, the SEC and FINRA [the Financial Industry Regulatory Authority] should be ready to bring cases involving […]<\/p>\n","protected":false},"author":63,"featured_media":3644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[132,143],"class_list":["post-3643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-sec"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/05\/105151876-GettyImages-167190508.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3643","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\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=3643"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3643\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/3644"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=3643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=3643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=3643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}