The US Securities and Exchange Commission (SEC) is tightening its regulatory noose around the crypto market. Gary Gensler the current SEC chief in a recent interview to Financial Times issued a stern warning against crypto lenders claiming any platform offering such services cannot avoid regulations.
Gensler said investors in the crypto market deserve the same kind of protection that many enjoy in the traditional market. He explained,
“This crypto space is now certainly of a size that without those investor protections of banking, insurance[and] securities laws [and] market oversight, I do think somebody is going to get hurt,” he said. “A lot of people are likely to get hurt.”
The controversy around crypto lending products began with Coinbase which revealed it had been threatened with a lawsuit over its unreleased stablecoin lending product by the SEC. The crypto exchange in an official blog post blasted SEC for not offering clarity around the security regulations and reasons a
Źródło: https://coingape.com/breaking-sec-chief-issues-stern-warning-against-crypto-lending-products/
