According to weekly reports, Joe Biden chose Gary Gensler as head of the Securities and Exchange Commission. He used to be an annex-chairman of the Commodity Future Trading Commission, and now the newly appeared candidate is expected to change the cryptocurrency market once and forever. His inevitable benefit is a constant and devoted work in related areas where, by the way, he reached desired goals and even more. The opinions regarding his candidature are arguing, but the fact is the fact^ he is an experienced professional in this sector and he will definitely know what to do with that in order to develop the industry. For the field of digital assets, this is considered to be great news. Gary Gensler is respected in the community that deals with digital assets. Besides, he has received praise for his work within market structures and swaps. Furthermore, he is known to be an intelligent, and thoughtful personality who cares enough about the rise of crypto-assets and cryptocurrencies to realize and understand the complex part that demonstrates the role of the authorities in triggering innovative approaches to this field. One thing is for certain, Gensler is much more than just a cheerleader for the cause.
What should we expect from the authority of the new candidate Gary Gensler?
A clear understanding
Gensler clearly and profoundly realizes the market, its particular value, and the existing development of cryptocurrencies. He spent so much time of his work in order to comprehend the field from different angles. Definitely, his proficiency, talent, and correct approach cannot be doubted that’s why Gensler will occupy this position with a high level of understanding of the field.
The world expects that Gary Gensler will prioritize a market structure. He differs from his predecessors because he has a strong M&A background in useful for this field areas.
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The clarity in market structure
A powerful concentration on investor protection is expected from Gesler in order to reach the desired balance as a result of such promotion of capital formation via crypto-assets. We expect a concentration on clarity regarding crypto and market structures as this will help trigger more trust and confidence among the investors.
We expect Gary Gensler will review data on the underlying liquidity of the spot market and the integrity of the specific source marketplaces where the discovery and the establishment of a particular price appear. In what way can these findings be integrated with the investors of the USA safely? Gensler can use Financial Technology not only with the aim to engage purposes but also as a means to drive higher performance and progress in policy through the internal silos.
Productive global cooperation
What about the impact on the global market? A powerful global interaction will be a priority for Gary Gensler during his authority. Remember, the crypto market regulation differs considerably from the global swaps market.
In 2021, the international landscape of management in the crypto market differs considerably from 2011. Despite this, there were enough jurisdictions that have begun attempting particularly new regulatory methods in the crypto-assets field.
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