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| Claims of clear cryptocurrency regulation |
A senior SEC official said that with the introduction of alternative asset classes by large companies like Tesla, MasterCard and BNY Mellon, there is an urgent need for clear regulations on cryptocurrencies.
“It is too early to draw political conclusions from the GameStop incident, but there is a new generation of good things for investors, I am participating in the market,” SEC Commissioner Hester Pearce said in an interview.
Due to the supportive attitude of cryptocurrency enthusiasts towards cryptocurrency, cryptocurrency enthusiasts call it Pierce Crypto Mom, and Pearce has long urged regulators to craft clear rules so that cryptocurrency assets thrive without worrying about breaking the law.
Pearce said that not only had the new management long ago asked for clarification but had also sought an opportunity to recheck, but it was also a time when other companies in the market seemed to reconsider.
Electric car maker Tesla announced that it has invested $ 1.5 billion in cryptocurrency, and Bitcoin hit a record high this month.
BNY Mellon has stated that it will help clients hold, transfer and spend digital assets, while Mastercard has also stated that it will open its network to some cryptocurrencies.
"This increases our urgency to take action to clarify this area," said Pearce.
When users of low-cost retail platform Reddit came together last month to raise the price of GameStop and other stocks, the market plummeted. This is putting pressure on hedge funds that are betting on these stocks.
The resulting volatility left the clearinghouse with an immense amount of money to secure the deals, causing many retail platforms to suspend purchases of the affected securities.
The incident sparked outrage from lawmakers when Congress heard Robinhood CEO (Vlad Teneff), Vlad Teneff (Vlad Teneff) and Citadel Hedge Fund CEO Ken Griffin from the official app (Ken Griffin) on Thursday.
Pearce said the SEC is investigating a number of issues, including market turmoil, the role of retail brokers, and how the post-trade market works.
She added, "It is a good thing to see new investors entering the market. We definitely hope they are educated and skeptical and that there is a wide range of market participants who can help improve the market. Pricing."