Novogratz commented on Gensler's position on crypto regulation

by in Cryptocurrency News

Novogratz

In a recent interview with the Washington Post, Securities and Exchange Commission Chairman Gary Gensler reiterated the need for an early regulatory framework for the cryptocurrency industry.

According to the head of the SEC, the US authorities will be able to apply the law on securities to this sector of the economy, since most tokens can be considered as just such an instrument (unregistered security).

Galaxy Digital CEO Mike Novogratz drew attention to Gensler's desire to accelerate the legalization of the cryptosphere. The billionaire stressed that the head of the SEC is a very literate person, and he is aware of the growing influence of the blockchain industry.

Trending: Pi Network Announced Launching Pi Wallet on the Testnet

However, the main danger lies in the fact that the Securities and Exchange Commission can put a lot of pressure on market participants, and they will be forced to go to safe jurisdictions. Gensler's main task is not to become a "sheriff" for the cryptosphere but to increase its transparency and security, the CEO of Galaxy Digital said.