Gary Gensler clarifies plans for crypto regulations, but will the SEC follow through?
— Crypto, Plans, Clarifies, Secs, Trigger, Market, Regulatory, Gary, Follow, Pressure — 1 min read
Russia has reportedly implemented a new law that bans crypto payments in the country. This move may rip off the proverbial bandage on the crypto market which has been trying to recover after a major selloff this year. SEC’s Gary Gensler confirmed that the U.S. is willing to accommodate crypto companies. However, the jury is still out on the SEC's intentions for the market. The right kind of regulation may support healthy growth, however, it remains unclear whether the SEC will favor the market despite the recent statements made by the SEC chair. On the other hand, a favorable regulatory outcome may encourage more countries to follow suit. This possibility may lead to bullish investor sentiments and potentially trigger another rally and possibly trigger another selloff. Source