SEC Chair Gensler Says He's Concerned About DeFi

Securities and Exchange Commission (SEC) Chair Gary Gensler recently told Bloomberg that he was concerned about decentralized finance.

Apart from DeFi, multiple other sectors of the cryptocurrency industry, including stablecoins and exchange-traded funds, are on the SEC’s radar.

Gensler claims that he asked his staff to use all of the agency’s authorities:

I’ve asked the staff to use all of our authorities anywhere we can.

As reported by U.Today, the SEC boss urged Congress to regulate cryptocurrency exchanges during a virtual hearing back in March. 

Despite teaching an MIT course on blockchain in the past, Gensler made it clear that he’s not neutral on crypto when it comes to investor protection:

While I’m neutral on the technology, even intrigued—I spent three years teaching it, leaning into it—I’m not neutral about investor protection.