Gary Gensler: "DeFi creates problems for investors and regulators" – Bits Media

investors and regulators» – Bits Media />

According to the Chairman of the Commission on Securities and Exchange of the United States (SEC), Decentralized financing industry (DeFi) can create new problems and risks for investors.

The cryptocurrency industry has various risks for investors and problems for the securities regulator, Gary Gensler said (Gary Gensler) in a speech to the Committee on Assiguing the House of Representatives of the US Congress. He pointed out the instability in the market and new products as examples of such problems.

“Cryptocurrency lending platforms and applications of the so -called decentralized financing create a number of problems for investors and employees of SEC, Trying to protect them ", - said Hensler.

According to him, At the beginning of the week, the general market capitalization of the cryptocurrency market was $1.6 TRLN after loss of more than one third of its cost in less than two weeks. Although BTC attracts the greatest attention, he noted, what more 80 crypto assets have market capitalization in $1 billion, And about 1 500 Cryptoactives - more $1 million.

Gensler previously informed the Committee for Financial Services of the House of Representatives of the US Congress, that increased regulation of cryptocurrency exchanges can help protect investors. In particular, He suggested, that a special regulator of the cryptocurrency market will provide some protection against fraud and manipulations - two problems, which SEC often mentions when deviations on ETF applications for bitcoin. Hensler repeated his fears and assumptions in the last performance.

“Tokens, which are currently on the market and are securities, can be offered, Sold and exchange a violation of federal laws on securities. Besides, None of the exchanges, trading crypto actures, I have not yet registered as an exchange in SEC. This led to a lower level of investor protection, than in traditional securities markets, and, respectively, To great opportunities for fraud and manipulations ", He said.

Hensler noted, that even the current volatility of the cryptocurrency market is suspicious.

“In recent weeks, the reported trading volume ranged from $130 to $330 billion a day. However, these figures are not checked and not reported to the regulatory authorities, Since crypto assets are traded on unregistered cryptocurrency exchanges. This is only one of many regulatory gaps in the markets of crypto assets ", - said Hensler.

He also stated, that SEC is ready to initiate law enforcement measures against market participants, not compliance with federal laws on securities. According to him, The regulator has already submitted 75 such claims against cryptocurrency companies, Having fined them on $1.7 billion. Recall, that Hensler previously stated, that regulators should be prepared to combat cryptocurrency scammers.