{"id":1126,"date":"2024-05-07T23:14:10","date_gmt":"2024-05-07T23:14:10","guid":{"rendered":"https:\/\/cryptd.in\/sec-chair-blames-journalists-for-asking-him-about-crypto-so-much\/"},"modified":"2024-05-07T23:14:10","modified_gmt":"2024-05-07T23:14:10","slug":"sec-chair-blames-journalists-for-asking-him-about-crypto-so-much","status":"publish","type":"post","link":"https:\/\/cryptd.in\/et\/sec-chair-blames-journalists-for-asking-him-about-crypto-so-much\/","title":{"rendered":"SEC Chair Blames Journalists For Asking Him About Crypto So Much"},"content":{"rendered":"<p>One of crypto\u2019s most powerful government nemeses believes journalists question him about the burgeoning asset class way more than necessary.<\/p>\n<p>Securities and Exchange Commission (SEC) chairman Gary Gensler appeared for a nine-minute interview with CNBC on Wednesday and blamed the host for asking for such an \u201coutsized ratio\u201d of crypto-focused questions.<\/p>\n<h2>Gensler Is Tired Of Crypto Questions<\/h2>\n<p>Gensler\u2019s interviewer, Andrew Ross Sorkin, <a href=\"https:\/\/www.cnbc.com\/video\/2024\/05\/07\/sec-chair-gensler-on-crypto-regulation-right-now-investors-arent-getting-the-required-disclosures.html\" target=\"_blank\" rel=\"noopener\">suggested<\/a> that journalists\u2019 focus on the industry may be proportionate to the SEC\u2019s attention to the space. The chairman disagreed.<\/p>\n<p>\u201cNo, it\u2019s a function of where your attention is,\u201d Gensler countered. \u201cI\u2019ve been on your show \u2013 what a dozen times \u2013 and every show you ask about crypto.\u201d<\/p>\n<p>Gensler noted how crypto \u2013 which currently boasts a market cap of $2.3 trillion \u2013 is just a drop in the bucket next to the $110 trillion capital markets consisting of traditional stocks and bonds.<\/p>\n<p>Relative to its size, he said crypto represents an \u201coutsized piece of the scams, frauds, and problems,\u201d across the market, which may also help explain journalists\u2019 narrow focus on the space.<\/p>\n<p>\u201cMy guess is this will be a majority crypto interview, while the capital markets are $110 trillion,\u201d Gensler said. \u201cSo it\u2019s also about where the financial media is focused.<\/p>\n<p>Sorkin did indeed ask more about crypto \u2013 including whether the SEC <a href=\"https:\/\/cryptopotato.com\/sec-gary-gensler-viewed-ethereum-as-a-security-for-over-a-year-new-filings-reveal\/\">views Ether (ETH) as a security<\/a>, and about the agency\u2019s most recent Wells Notice issued against crypto and stock trading platform <a href=\"https:\/\/cryptopotato.com\/sec-slaps-robinhood-with-wells-notice-over-securities-law-violations\/\">Robinhood<\/a> for alleged securities law violations. Gensler\u2019s answers were indirect as usual, while still insisting that \u201cmany\u201d crypto tokens are securities under the law.<\/p>\n<h2>The SEC\u2019s Clear Crypto Focus<\/h2>\n<p>Over the past 18 months, the SEC has filed several lawsuits and Wells Notices against the biggest crypto companies in the world with ties to the United States.<\/p>\n<p>These include crypto exchanges like Binance, <a href=\"https:\/\/cryptopotato.com\/coinbase-files-appeal-over-investment-contracts-in-sec-battle\/\">Coinbase<\/a>, Kraken, and Robinhood, alongside development teams like <a href=\"https:\/\/cryptopotato.com\/sec-files-notice-of-intent-to-sue-uniswap-labs\/\">Uniswap Labs<\/a>, and stablecoin issuers like Paxos.<\/p>\n<p>In 2023 alone, the SEC brought 43 enforcement actions against digital asset market participants, according to <a href=\"https:\/\/www.cornerstone.com\/insights\/press-releases\/sec-enforcement-of-cryptocurrency-reaches-a-new-high\/#:~:text=The%20Securities%20and%20Exchange%20Commission,Cornerstone%20Research%20report%20released%20today.\" target=\"_blank\" rel=\"noopener\">Cornerstone Research<\/a>. The sheer number of actions has inspired other crypto firms \u2013 such as Consensys \u2013 to preemptively sue the SEC before being accused of running afoul of what is still a legal grey area.<\/p>\n<p>\u201cWe don\u2019t speak about whether somebody is, in our opinion, not following the law unless we actually bring a case,\u201d Gensler stated.<\/p>\n<p>\u201cA lot of people have lost their hard-earned funds in the field that you seem to be so fascinated about,\u201d he added.<\/p>\n<p>Gensler has not refrained from opining on crypto in his capacity \u2013 even in his duties as chairman.<\/p>\n<p>Following his agency\u2019s approval of Bitcoin spot ETFs in January, Gensler published an unusual blog post asserting that the agency did still not approve of Bitcoin as an asset. Speaking to CNBC the following day, he also argued that <a href=\"https:\/\/cryptopotato.com\/sec-chair-says-bitcoin-is-centralized-after-approving-etfs\/\">Bitcoin is fundamentally centralized<\/a>.<\/p>\n<p>Postitus <a href=\"https:\/\/cryptopotato.com\/sec-chair-blames-journalists-for-asking-him-about-crypto-so-much\/\">SEC Chair Blames Journalists For Asking Him About Crypto So Much<\/a> ilmus esimesena veebilehel <a href=\"https:\/\/cryptopotato.com\/\">CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>One of crypto\u2019s most powerful government nemeses believes journalists question him about the burgeoning asset class way more than necessary. Securities and Exchange Commission (SEC) chairman Gary Gensler appeared for a nine-minute interview with CNBC on Wednesday and blamed the host for asking for such an \u201coutsized ratio\u201d of crypto-focused questions. Gensler Is Tired Of [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":1127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Chair Blames Journalists For Asking Him About Crypto So Much - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/et\/sec-chair-blames-journalists-for-asking-him-about-crypto-so-much\/\" \/>\n<meta property=\"og:locale\" content=\"et_EE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Chair Blames Journalists For Asking Him About Crypto So Much - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"One of crypto\u2019s most powerful government nemeses believes journalists question him about the burgeoning asset class way more than necessary. Securities and Exchange Commission (SEC) chairman Gary Gensler appeared for a nine-minute interview with CNBC on Wednesday and blamed the host for asking for such an \u201coutsized ratio\u201d of crypto-focused questions. 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