Gary Gensler, Chair of the Securities and Exchange Commission (SEC), recently expressed concern about decentralized finance.
Aside from DeFi, the SEC is interested in a number of other aspects of the cryptocurrency industry, such as stablecoins and exchange-traded funds.
Gensler claims that he directed his staff to use all of the agency’s powers:
I’ve instructed the staff to use all of our powers whenever possible.
During a virtual hearing in March, SEC Chairman Jay Clayton urged Congress to regulate cryptocurrency exchanges.
Despite having previously taught an MIT course on blockchain, Gensler has stated that he is not neutral on crypto when it comes to investor protection: “While I’m neutral on the technology, even intrigued—I spent three years teaching it, leaning into it—I’m not neutral about investor protection.”