Gensler agrees cryptocurrencies bring innovative idea to financial space

“Bitcoin and other cryptocurrencies have brought new thinking to financial planning and investor inclusion. I’d work with fellow commissions both to promote the new innovation but also, at the core, ensure investor protection.” said Gary Gensler, the nominee of the chair of Securities and Exchange Commission(the SEC), in the nomination hearing of the Senate Committee on Banking.

Besides, he glorified the application of blockchain can help processing financial trading at a lower fee, as well as documenting medical records and collecting data, with the background as a lecturer at MIT to lecture on blockchain technology and cryptocurrencies, we can infer that his nomination to the SEC could not be a nightmare oppressed crypto industry.

For a more concrete confirmation on the stance of the SEC, we can look forward to the acceptance of the public listing of Coinbase, if it succeeds, we could believe that the SEC is holding an opposite and relatively open-minded attitude to cryptocurrencies, under the protection of investors.

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