Gary Gensler clarifies plans for crypto regulations, but will the SEC follow through?

Russia has reportedly implemented a new law that bans crypto payments in the country. This move may rip off the proverbial bandage on the crypto market which has been trying to recover after a major selloff this year. SEC’s Gary Gensler’s latest statements may however water down the fresh concerns over unfavorable regulatory pressure and its impact on the crypto market.July 15, 2022

The new law is a step back for crypto adoption and highlights yet another factor that may trigger more selling pressure. This will particularly be the case if more countries implement similar anti-crypto measures. The crypto world is particularly keen on the regulatory path that the SEC is willing to customize the laws to accommodate the unique nature of the crypto market.interview, the SEC chair confirmed that the U.S is willing to accommodate crypto companies.

The SEC chair noted that the exemption aims to encourage crypto companies to pursue regulatory compliance. However, the jury is still out on the SEC’s intentions for the crypto market. Some critics believe that the SEC has been inconsistent when it comes to regulations and protecting the interests of the masses.'s regime at the SEC as a bad faith "watchdog" whose regulatory inconsistency jeopardized public trust and weakened our financial markets.

If the SEC pivots on the plans that Gensler highlighted, then the crypto market might plunge into another major selloff. On the other hand, a favorable regulatory outcome may encourage more countries to follow suit. This possibility may lead to bullish investor sentiments and potentially trigger another rally.

Although regulatory pressure currently poses a threat to the crypto market, the right kind of regulation may support healthy growth.Subscribe to get it daily in your inbox.

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