Gensler points out the need to regulate the DeFi market

by in DeFi News

Gary Gensler

According to the head of SEC, Gary Gensler, the number of investors entering the crypto sphere is constantly growing.

The US Securities and Exchange Commission is concerned about the expansion of the DeFi market. The regulator has long ago paid attention to space, the users of which can lend and receive funds directly without intermediaries. That is the principle that DeFi projects adhere to.

Gensler mentioned that if any organization is engaged in lending, then its activities should be regulated by the state. Moreover, on the DeFi market, there are rates of return on cryptoassets.

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Decentralized exchanges can be viewed as structures operating in the format of mutual funds. That is why the SEC needs to get leverage to oversee the activities of such platforms.

Back in May, Gary Gensler noted that the American authorities need to focus on the early development of a regulatory framework for cryptocurrency exchanges.

The head of the SEC stressed that exchanges are the structures on which the crypto market is based. That is why the authorities need to pay special attention to control over such sites.