Wall street is busy today with rumors of Ex-CFTC chair Gary Gensler named to be new SEC lead by the current Biden government. Gary Gensler is also a blockchain professor at MIT and comes with a good background in cryptocurrencies.
Gary Admires Blockchain but supports Crypto Regulation
Gary teaches a course on blockchain and cryptocurrencies titled Blockchain and Money at MIT. In order to understand how Gary perceives cryptocurrencies we can refer his 2018 interview with Bloomberg. In the interview, Gary emphasized to be technology neutral when it comes to blockchain but he favors regulation of cryptocurrencies in order to avoid frauds and money laundering practices.
In his words,
Cryptocurrency like Bitcoin need more protection and regulation than oil.
He believes there is future for cryptocurrencies but only when investors feel safe in dealing with decentralized assets like Bitcoin.
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