“We don’t need more digital currency.. We already have a digital currency. It’s called the U.S. dollar.. It’s called the euro.. It’s called the yen.. They’re all digital now,” Gary Gensler explained during a live appearance on CNBC.
The SEC chief’s statements came amid the Commission’s decision to take action against the nation’s leading cryptocurrency exchanges. The SEC sued Coinbase on Tuesday, accusing the company of acting as an unregistered broker and exchange.
The day before the Commission accused the largest cryptocurrency exchange Binance and its founder Changpeng Zhao of creating a “network of deception,” inflating trading volume, diverting customer assets and trading in unregistered securities;
“These trading platforms, which they call exchanges, combine a number of functions. In traditional finance, we don’t see the New York Stock Exchange managing hedge fund markets,” Gensler explained.
As the SEC chief noted, investors need to be assured that the regulator is sensitive to the risks in the world of digital currencies.
Earlier it became known that the SEC issued a regulatory order to block the accounts of Binance.US. Representatives of the site stressed that all user funds are safe.
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