Electronic Money Will Not Last Long Term – Chairman Of The Securities Commission And Us Trading Commission

Gary Genensler said that he was not more likely to survive long-term for electronic money, emphasizing the importance of bringing them into the supervisory range of law and protecting investors in the market.0: 00/2: 36 NAMGARY GENSLER DUALs said that electronic money could be another financial crisis. Photo: Fox News.In Gensler, Chairman of the US Securities and Trading Commission (SEC), has considered thousands of electronic currencies existing with the era of "wild cat bank" (Wildcat Banking) - Banking industry In the United States from 1837 to 1863, was established in remote locations and inaccessible. At that time, banks were chartered according to state law without regulations of the Federal Bank

. Before Abraham President Lincoln established the monetary control office, the banks released the currency In their own, sometimes they refuse to convert value in gold or silver. Gensler said in an online event organized by Washington Post: "I don't think it is possible to survive long for years or Six thousand forms of private money. So in the meantime, I think the application of investor protection mode around this issue is very worthwhile
"Mr. Gensler, who took office in April, previously taught a class Electronic money at the Massachusetts Institute of Technology, raise the hope of some participants in the industry that he will be a friendly manager. However, he has many times the electronic money market wallet with western west and calling for lending platforms and electronic money transactions registered with SEC, saying that it is completely likely that these platforms provide unregistered securities customers, violating federal laws. Third, he aimed at stable coins (StableCoin), a rapidly growing segment of the electronic money market attracted the more and more supervision of management agencies in recent months. This Token code - Includes Tether, USD Coin and USD BINNCE - Packed at a ratio of one for the dollar and is supported by high quality assets. They are used Mainly used to trade other electronic currencies. In other separate comments on Tuesday (September 21), the currency supervision director of the US Monetary Audit Agency (OCC), Michael Hsu , said the electronic money industry is on a road like the credit derivative industry before the 2008 financial crisis. I expressed doubts for the goal of promoting the finances of electronic money, At the same time, criticizing electronic money tools when promising stable profits to investors, since they did not explain how to create those profits. Hesu said in a comment with the Blockchain Association, A group of electronic money corridor: "I have seen a foolish gold fever at the time of about the 2008 financial crisis. I feel like we can be at one Crisis other than electronic money and non-concentration finance
"Phuc Ha

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