The U.S. regulator is planning to play a more role in protecting cryptocurrency (virtual currency) investors. ) Reported.
Michael Chu, the head of the Treasury Department overseeing the financial sector, told FT that “it is necessary to derive a manual overseeing the cryptocurrency market through cooperation between institutions.”
He said that three organizations, including the Monetary Supervisory Office of the Treasury Department, the Fed, and the Federal Deposit Insurance Corporation, which are major regulators of the United States, have organized a cryptocurrency-related team, Sprint, and are discussing cryptocurrency.
He said that although blockchain technology, a financial innovation, cannot be reversed, this is bringing a crisis to the market, suggesting that preventing the crisis is the main concern of the authorities, suggesting that it will tighten regulations on the cryptocurrency market.
In addition, the US Securities and Exchange Commission (SEC) and the Futures Trading Commission are also taking measures to protect cryptocurrency investors.
SEC Chairman Gary Gensler attended the House of Representatives last week and admitted that there is a gap in the current regulation, insisting that a cryptocurrency-related bill should be prepared as soon as possible.
“The cryptocurrency market, like the New York Stock Exchange (NYSE) and the NASDAQ market, should be able to protect investors,” he pointed out.
FT said that there is a high possibility that regulations on the cryptocurrency market will become full-fledged as US regulators are in a hurry to regulate the cryptocurrency market one after another.
