{"id":9257,"date":"2023-05-16T02:57:34","date_gmt":"2023-05-16T06:57:34","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/sec-chair-gensler-argues-that-rules-already-exist-to-regulate-crypto-in-light-of-coinbase-pushback\/"},"modified":"2023-05-16T02:57:35","modified_gmt":"2023-05-16T06:57:35","slug":"sec-chair-gensler-argues-that-rules-already-exist-to-regulate-crypto-in-light-of-coinbase-pushback","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9257","title":{"rendered":"SEC Chair Gensler Argues That Rules Already Exist To Regulate Crypto in Light of Coinbase Pushback"},"content":{"rendered":"
\n

US Securities and Exchange Commission\u2019s Chair Gary Gensler pushed back against Coinbase\u2019s call to have the agency propose and adopt rules for digital assets.<\/p>\n

Gensler was asked on Monday during Atlanta Fed’s 2023 Financial Markets Conference<\/u> to comment on the dispute with Coinbase why the SEC doesn\u2019t want to publish crypto rules.\u00a0<\/p>\n

The rules have already been published, Gensler said.<\/p>\n

\u201cTo make it quite direct, this is a field that has been operating largely noncompliant,\u201d Gensler said.\u00a0<\/p>\n

Rules are already out there governing exchanges, broker dealers, advisers, custodying assets and how to register securities offerings, he said.<\/p>\n

There is nothing about a new technology that makes it non consistent with public policies, Gensler added.\u00a0<\/p>\n

Coinbase filed a petition<\/u> in July 2022 asking for the agency to propose and adopt rules for digital assets, while criticizing its \u201cenforcement-first approach.\u201d<\/p>\n

\u201c… new rules facilitating the use of digital asset securities would allow for a more efficient and effective allocation of capital in financial markets and create new opportunities for investors,\u201d the exchange said.\u00a0<\/p>\n

The petition garnered support<\/u> from the US Chamber of Commerce, the world\u2019s largest business organization, last week.\u00a0<\/p>\n

\u201cIndustry confusion about the rules\u2014and whether they can even be satisfied\u2014hampers innovation,\u201d the Chamber said.\u00a0<\/p>\n

Coinbase has been embroiled in a fight with the SEC since March following news that the exchange was served a Wells Notice.\u00a0<\/p>\n

A Wells notice is a letter from SEC staff saying that the agency is ready to recommend formal charges to the five-member commission.<\/p>\n

Gensler stays steady<\/h2>\n

Gensler has repeatedly said most cryptocurrencies are securities and has said that firms need to register with the agency.<\/p>\n

The SEC chair also called the idea that many of the crypto projects are decentralized a \u201cfalse narrative.\u201d<\/p>\n

\u201cIf there\u2019s 12,000 or 23,000 tokens, you can find some group of entrepreneurs and a website and a Reddit chat or a Twitter channel around most of these,\u201d Gensler said.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

US Securities and Exchange Commission\u2019s Chair Gary Gensler pushed back against Coinbase\u2019s call to have the agency propose and adopt rules for digital assets. Gensler was asked on Monday during Atlanta Fed’s 2023 Financial Markets Conference to comment on the dispute with Coinbase why the SEC doesn\u2019t want to publish crypto rules.\u00a0 The rules have […]<\/p>\n","protected":false},"author":1,"featured_media":9258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-9257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nSEC Chair Gensler Argues That Rules Already Exist To Regulate Crypto in Light of Coinbase Pushback | iFintechWorld<\/title>\n<meta name=\"description\" content=\"US Securities and Exchange Commission\u2019s Chair Gary Gensler pushed back against Coinbase\u2019s call to have the agency propose and adopt rules for digital\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=9257\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Chair Gensler Argues That Rules Already Exist To Regulate Crypto in Light of Coinbase Pushback | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"US Securities and Exchange Commission\u2019s Chair Gary Gensler pushed back against Coinbase\u2019s call to have the agency propose and adopt rules for digital\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=9257\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-16T06:57:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-16T06:57:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1684220254_chair-gary-gensler-01-2022.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"919\" \/>\n\t<meta property=\"og:image:height\" content=\"697\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=9257#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=9257\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"SEC Chair Gensler Argues That Rules Already Exist To Regulate Crypto in Light of Coinbase Pushback\",\"datePublished\":\"2023-05-16T06:57:34+00:00\",\"dateModified\":\"2023-05-16T06:57:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=9257\"},\"wordCount\":342,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=9257#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=9257\",\"url\":\"https:\/\/ifintechworld.com\/?p=9257\",\"name\":\"SEC Chair Gensler Argues That Rules Already Exist To Regulate Crypto in Light of Coinbase Pushback | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-16T06:57:34+00:00\",\"dateModified\":\"2023-05-16T06:57:35+00:00\",\"description\":\"US Securities and Exchange Commission\u2019s Chair Gary Gensler pushed back against Coinbase\u2019s call to have the agency propose and adopt rules for digital\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=9257#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=9257\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=9257#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SEC Chair Gensler Argues That Rules Already Exist To Regulate Crypto in Light of Coinbase Pushback\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Chair Gensler Argues That Rules Already Exist To Regulate Crypto in Light of Coinbase Pushback | iFintechWorld","description":"US Securities and Exchange Commission\u2019s Chair Gary Gensler pushed back against Coinbase\u2019s call to have the agency propose and adopt rules for digital","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=9257","og_locale":"en_US","og_type":"article","og_title":"SEC Chair Gensler Argues That Rules Already Exist To Regulate Crypto in Light of Coinbase Pushback | iFintechWorld","og_description":"US Securities and Exchange Commission\u2019s Chair Gary Gensler pushed back against Coinbase\u2019s call to have the agency propose and adopt rules for digital","og_url":"https:\/\/ifintechworld.com\/?p=9257","og_site_name":"iFintechWorld","article_published_time":"2023-05-16T06:57:34+00:00","article_modified_time":"2023-05-16T06:57:35+00:00","og_image":[{"width":919,"height":697,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1684220254_chair-gary-gensler-01-2022.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=9257#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=9257"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"SEC Chair Gensler Argues That Rules Already Exist To Regulate Crypto in Light of Coinbase Pushback","datePublished":"2023-05-16T06:57:34+00:00","dateModified":"2023-05-16T06:57:35+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=9257"},"wordCount":342,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Crypto"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=9257#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=9257","url":"https:\/\/ifintechworld.com\/?p=9257","name":"SEC Chair Gensler Argues That Rules Already Exist To Regulate Crypto in Light of Coinbase Pushback | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-16T06:57:34+00:00","dateModified":"2023-05-16T06:57:35+00:00","description":"US Securities and Exchange Commission\u2019s Chair Gary Gensler pushed back against Coinbase\u2019s call to have the agency propose and adopt rules for digital","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=9257#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=9257"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=9257#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"SEC Chair Gensler Argues That Rules Already Exist To Regulate Crypto in Light of Coinbase Pushback"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/9257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9257"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/9257\/revisions"}],"predecessor-version":[{"id":9259,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/9257\/revisions\/9259"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/9258"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}