WebsCrypto
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Markets
  • Business
  • Opinions
  • Press Releases
Facebook X (Twitter) LinkedIn Telegram
WebsCryptoWebsCrypto
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Markets
  • Business
  • Opinions
  • Press Releases
Bitcoin (BTC) $28,060.52 3.46%Ethereum (ETH) $1,724.70 2.72%BNB (BNB) $219.20 1.96%XRP (XRP) $0.521092 0.54%Cardano (ADA) $0.263742 3.05%Solana (SOL) $24.37 14.28%Dogecoin (DOGE) $0.06329 1.65%Polkadot (DOT) $4.28 3.15%Shiba Inu (SHIB) $0.000008 1.06%Dai (DAI) $1.00 0.11%TRON (TRX) $0.08997 1.63%Polygon (MATIC) $0.561514 4.88%Avalanche (AVAX) $9.69 2.35%Uniswap (UNI) $4.63 2.60%Litecoin (LTC) $67.65 2.11%
Crypto Prices
WebsCrypto
Markets

Gary Gensler: The Cryptocurrency Market Will Become Centralized

By Simon LawsonOctober 25, 20221 Min Read
Gary Gensler: The Cryptocurrency Market Will Become Centralized
Share
Facebook Twitter Telegram LinkedIn Reddit Email

SEC Chairman Gary Gensler does not see decentralization as a fact of the cryptocurrency market, despite the fact that digital currencies originated as an attempt to circumvent centralization.

Central intermediaries tend to benefit from scale, network effects and access to valuable data, Gensler said. Centralization tends to re-emerge even as technological innovation continues to disrupt existing business models.

Advertisements

Gensler warns:” We are even seeing centralization in the crypto market, which is built on the idea of decentralization. This area is actually very concentrated among the intermediaries in the middle of the market. Therefore, we must be wary of those areas where concentration and potential economic rents have risen or may rise in the future.”

Gensler asked exchanges to step in and ask securities regulators if they were unclear whether a cryptocurrency or token could be considered a security, and said the SEC could study on a case-by-case basis whether exemptions for specific items are required.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
Cryptocurrency Exchange Policy SEC
Simon Lawson
  • X (Twitter)

Simon Lawson has been a professional financial reporter for 6 years. He has in-depth research on the crypto industry and will release major crypto news in a timely manner.

Recommended Reading

Markets September 30, 2023

Bitcoin Faces Volatility Amidst Global Economic Uncertainties

News September 30, 2023

Bitcoin Optimism Rising in Developing World Despite Price Declines

Business September 30, 2023

CoinShares Optimistic About US Cryptocurrency Landscape Amidst Global Regulatory Uncertainties

Business September 28, 2023

Chase UK Takes a Firm Stance Against Cryptocurrency Transactions Amid Rising Scams

News September 28, 2023

Inflationary Market Bitcoin and Ethereum Remain Steady as Correlation with U.S. Stocks Rises

Markets September 28, 2023

Bitcoin Soars 80% This Year, Outpacing Global Stocks Amid U.S. Banking Crisis and Diminishing Binance Concerns

The Latest
Markets September 30, 2023

Bitcoin Faces Volatility Amidst Global Economic Uncertainties

News September 30, 2023

Bitcoin Optimism Rising in Developing World Despite Price Declines

Business September 30, 2023

CoinShares Optimistic About US Cryptocurrency Landscape Amidst Global Regulatory Uncertainties

Business September 28, 2023

Chase UK Takes a Firm Stance Against Cryptocurrency Transactions Amid Rising Scams

News September 28, 2023

Inflationary Market Bitcoin and Ethereum Remain Steady as Correlation with U.S. Stocks Rises

EDITOR’S CHOICE
Bitcoin Faces Volatility Amidst Global Economic Uncertainties
Chase UK Takes a Firm Stance Against Cryptocurrency Transactions Amid Rising Scams
Vitalik Buterin’s Recent Ethereum Transfers Raise Eyebrows in the Crypto Community
Bonds Surge in Appeal as Bitcoin and S&P 500 Navigate Third Quarter Downturn
News
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Markets
  • Business
  • Markets
Information
  • Opinions
  • Guides
  • Press Release
  • Sponsored
Price Indexes
  • Market Cap
  • Bitcoin Price
  • Ethereum Price
  • Cardano Price
  • Solana Price
  • Polkadot Price
  • Polygon Price
Services
  • About Us
  • Contact Us
  • Advertise
  • Privacy Policy
  • Terms of Service
WebsCrypto
X (Twitter) Facebook Telegram LinkedIn RSS
© 2023 WebsCrypto

Type above and press Enter to search. Press Esc to cancel.