Nakamoto’s innovation is real : Gary Gensler

Gary Gensler, chairman of the SEC, stated about Bitcoin and also warned the services based on Bitcoin services based exchanges about selling securities to the people.

The new chair of the SEC, Mr Gary Gensler, has lots of experience doing job for the government authorities regarding crypto related regulations. Gary has experience of more than 12 years, working since 2009. In the past he worked in CFTC at the position of CFTC chair. Gary specially did his contribution in the regulation of derivatives based trading services at the time of Global crisis.

Read also: DeFi projects to register with the SEC : Gary Gensler

On August 3 , Gary said that the invention that Satoshi Nakamoto did for this world through blockchain technology is real. But there are many types of misleading information or types of hype about it.

“I came to believe that, though there was a lot of hype masquerading as reality in the crypto field, Nakamoto’s innovation is real. Further, it has been and could continue to be a catalyst for change in the fields of finance and money.”

Further Gary added that even with such hype, Bitcoin will act as a catalyst to bring a change in the financial system.

“…..could continue to be a catalyst for change in the fields of finance and money”

Gary Gensler played many important key roles in the Biden transition team also. He helped out the U.S team to bring many types of necessary regulation. Recently he proposed an idea to bring a regulation of Defi projects which are controlling the whole platform as a centralized system. 

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