TechFlow news: SEC Chair Gary Gensler responded to previous calls from the crypto industry urging him to recuse himself from cryptocurrency-related decisions, stating that he fully complies with the law.
Gensler said: "My commissioners and I have taken an oath to enforce the laws passed by Congress and the courts' interpretation of those laws. This is essentially about protecting the investing public and conducting careful analysis of the facts and circumstances surrounding each token and platform." Additionally, Gensler added: "I am very mindful of my ethical responsibilities."
Gensler declined to disclose specific details regarding ETF filings, noting that ETFs tend to offer a range of conflicting services, which he pointed out was one of the reasons behind the enforcement action against Coinbase. He also warned that cryptocurrency trading platforms have limitations in monitoring money laundering transactions, which constitutes a form of market manipulation. Due to concerns over lack of transparency in Bitcoin trading and potential market manipulation, the SEC has rejected multiple applications for spot Bitcoin ETFs.
