The SEC Chairman said he doesn’t want traditional financial institutions to believe they can also be “non-compliant” and outside of a regime he says “has been quite a benefit to investors and economic growth over the last 90 years.”
He responded saying “we don't want to undermine the protections we have in a $100 trillion capital market,” adding:
“We don't want our current stock exchanges, mutual funds, or public companies to, sort of inadvertently by a stroke of a pen, say ‘you know what, I want to be non-compliant as well, I want to be outside of this regime that I think has been quite a benefit to investors and economic growth over the last 90 years.’”
The bipartisan Lummis-Gillibrand “Responsible Financial Innovation Act” aims to address many facets of crypto regulation such as tax treatment of digital assets,One provision of the bill gives “clear authority” to the Commodity Futures Trading Commission over digital asset spot markets, Gensler has long been adamant in
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