US Securities and Exchange Chairman Gary Gensler mentioned DeFi in his speech with Jay Clayton.
While Gensler believes that decentralized finance can be a source of innovation, he stated that it should be included in the regulatory framework. He emphasized that otherwise they may not be permanent.
“The innovation with DeFi could be real. But they can’t if they stay outside the regulatory framework.
Gensler however expressed concerns about the centralization of some DeFi projects. He stated that the main purpose of such projects may be to avoid laws that would prevent money laundering.
Gensler also made a call to crypto exchanges:
“Trading and lending platforms are in a very important place for investor and consumer protection. Come and work with us. We use the enforcement tool where appropriate. You must work to comply with the law”
Gensler also reiterated that stablecoins remind him of casino poker chips.
