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Gensler: Bitcoin not on SEC regulation agenda in 2021

Gensler: Bitcoin not on SEC regulation agenda in 2021

In a surprising move, the Securities and Exchange Commission (SEC) have avoided any mention of cryptocurrency or Bitcoin (BTC) in their 2021 regulatory agenda

Included amongst a broader publication by The Office of Information and Regulatory Affairs, the SEC 2021 Regulatory Agenda will be focusing on regulations aimed at climate change, swaps, beneficial ownership, and SPACs amongst others. But BTC saw no mention. 

However, the decision by the SEC to avoid tackling cryptocurrency regulations this year will reassure institutional finance and cryptocurrency investors alike; putting an end to fear, uncertainty, and doubt about potential Chinese-style banning measures or aggressive responses to CBDCs. 

Many cryptocurrency analysts attribute the absence of cryptocurrency regulations on the agenda to the crypto-friendly SEC Chairman Gary Gensler – a blockchain and cryptocurrency professor at MIT. This sentiment could be in question however, due to the SEC once again postponing its decision on BTC ETFs.

Gensler is seen as keen to protect amateur investors, and has highlighted that cryptocurrency exchanges are in need of regulation – furthermore the SEC has enacted 75 crypto-related enforcement actions against BTC futures funds.

Following on from January’s large-scale institutional adoption of cryptocurrencies and BTC, there has been a wide-spread anticipation amongst cryptocurrency analysts surrounding potential moves by the SEC to regulate cryptocurrencies – especially cryptocurrency exchanges and CBDCs.

The omission of cryptocurrencies from the 2021 regulatory agenda is especially surprising due to the high inflation figures coming out of the consumer price index (5%). 

These high inflation figures, alongside the inflation control measures announced at this week’s FOMC conference, indicates there could be large amounts of institutional fiat moving into cryptocurrencies such as BTC this year. This can be seen as Michael Saylor triples-down on his BTC inflation hedge. 

This is bullish news for BTC and will reassure investors for the foreseeable year ahead. 

For more news, guides and cryptocurrency analysis, click here.

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Gensler: Bitcoin not on SEC regulation agenda in 2021

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Source: https://coinrivet.com/gensler-bitcoin-not-on-sec-regulation-agenda-in-2021/

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