Gary Gensler’s Insane Crypto Policy
Gensler wants to follow in his predecessor's footsteps and treat the crypto industry as something to stifle rather than support.
DeFi projects that reward participants with incentives or digital tokens could be subject to SEC regulation, the SEC chairman said.
The two congressmen wrote that rather than potentially regulating innovation and job creation out of the U.S., lawmakers and regulators should “promote an active dialogue between regulators and market participants.”
The SEC chief has a point: DeFi is often not as decentralized as its proponents like to claim.
Valkyrie said that the ETF would not "directly invest in bitcoin."
Congress should focus on trading, lending and decentralized finance, the securities regulator said.