SEC nominee chairman Gary Gensler calls cryptocurrencies “catalyst of change”

Gary Gensler, President Joe Biden’s nominee to spearhead the Securities and Exchange Commission, has told the Senate Banking Committee that he would promote cryptocurrency innovation during his March 2 confirmation hearing when asked cryptocurrency regulations. He described Bitcoin and other cryptocurrencies as “a catalyst for change.”

I think, as I teach at MIT on these subjects, that these innovations have been a catalyst for change. Bitcoin and cryptocurrencies have brought new thinking to payments and financial inclusion but they’ve also raised new issues of investor protection…If confirmed at the SEC, I will work to promote innovation.

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