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SEC Chair Gensler Says Crypto Investors Need Greater Protection


u.today 07 May 2021 13:08, UTC
Reading time: ~1 m

According to the Bloomberg Terminal, Gary Gensler has suggested providing greater protection for investors regarding cryptocurrency tokens.

The source has cited CNBC.

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Gensler has taken over his position in the SEC from Jay Clayton, who initiated the lawsuit against blockchain giant Ripple back in late December this year.

Contrary to numerous expectations of the XRP community, Gensler is not dropping the suit regarding the alleged XRP status as an “unregistered security”. Ripple and the regulatory agency has scored several legal victories one after the other.

The suggestion of Gensler regarding better protection for crypto investors is likely to be regarding his Thursday's testimony in front of U.S. House Committee on Financial Services, where he planned to discuss the “gamification” of trading, hype and market manipulation on the social media and his concerns about the Robinhood platform.


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