SEC could exempt crypto firms from some laws to help with compliance, says Chair Gensler
— Platforms, Crypto, Risk, Assetbacked, Gensler, Exempt, Chair, Compliance, Space, Security — 1 min read
U.S. Securities and Exchange Commission Chair Gary Gensler said he could bend some laws for crypto companies to encourage compliance. The comments come as the crypto market continues to suffer from contagion risk following the massive selloff that saw $2 trillion wiped off crypto's overall market cap since reaching record highs last year. Many firms in the space remain "non-compliant," he added."There's a potential path forward. I've said to the industry, the lending platforms, to the trading platforms: 'Come in, talk to us,'" he said. The latest crypto lender to file for Chapter 11 bankruptcy is Celsius Network, which provided a high yield to customers who deposited their cryptocurrency. As of June, Celsius Network was able to amass Source