The new head of the SEC acknowledges the growing influence of cryptocurrencies

The influence of the cryptocurrency industry continues to grow, and this trend can no longer be ignored. This point of view is shared by ex-chairman of the Commodity Futures Trading Commission (CFTC) Gary Gensler, who was appointed head of the SEC (Securities and Exchange Commission).

He was appointed to the new post by President Joe Biden. According to Gensler, digital currencies have actually become triggers of changes in the global economy. And we are talking about such processes that qualitatively change the entire financial system, quotes the head of the SEC portal The Block.

The Securities and Exchange Commission can speed up the legalization of the cryptosphere. In this way, the state will create a more attractive business environment.

Gensler said at a Senate hearing: “Bitcoin and other cryptocurrencies have brought new ideas to payments and financial infrastructure [in general]. But they [cryptocurrencies] also raised investor protection issues that we still need to deal with."

Note that many representatives of the blockchain sector hope that the new administration, which has come to the White House, will be more active in the implementation of crypto regulation.