https://www.sec.gov/news/public-statement/gensler-aspen-security-forum-2021-08-03The hyperlink is SEC Chairman Gary Gensler's speech at Aspen Security Forum on August 3.
There are two sentences are worthy of our alert.
"In my view, the legislative priority should center on crypto trading, lending, and DeFi platforms”
"For those who want to encourage innovations in crypto, I’d like to note that financial innovations throughout history don’t long thrive outside of our public policy frameworks.”
Please stay awake. The regulation of the cryptocurrency market will become more and more serious. How do you interpret the sentences?
Honestly, those sentences were more than expected. If you were working for the SEC and your job is to regulate unregulated and almost uncontrollable spaces, and it was your task to thoroughly check for the most pressing issues, I bet you would have been very concerned about the DeFi area. Look at what's possible already, seamlessly switching back and forth, involving mixers, anonymous currencies and so on and so forth. The DeFi space is going to be insane and if the don't act now, they will lose a race which they probably lost already and couldn't win ever anyway.