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Communications of the ACM

ACM Opinion

New SEC Boss Wants More Crypto Oversight to Protect Investors

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SEC Chair Gary Gensler

"While I'm neutral on the technology...I'm not neutral about investor protection. If somebody wants to speculate, that's their choice, but we have a role as a nation to protect those investors against fraud."

In his first extensive interview about the digital money craze, U.S. Securities and Exchange Commission Chair Gary Gensler signaled that his deep interest in the subject doesn't mean he's simpatico with the hands-off oversight approach that many enthusiasts would like to see.

Gensler says he thinks regulating crypto exchanges is perhaps the easiest way for the government to get a quick handle on digital token trading. But he's also concerned about new ways people are getting into crypto, such as peer-to-peer lending on so-called decentralized finance, or DeFi, platforms.

From Bloomberg
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