{"id":7413,"date":"2023-06-06T22:04:37","date_gmt":"2023-06-06T22:04:37","guid":{"rendered":"https:\/\/www.bitrabo.com\/community\/us-doesnt-need-more-digital-currency-it-already-has-the-dollar-says-sec-chair\/"},"modified":"2023-06-06T22:05:00","modified_gmt":"2023-06-06T22:05:00","slug":"us-doesnt-need-more-digital-currency-it-already-has-the-dollar-says-sec-chair","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/us-doesnt-need-more-digital-currency-it-already-has-the-dollar-says-sec-chair\/","title":{"rendered":"SEC Chair Says US Dollar is Sufficient as Digital Currency, Opposes Other Cryptocurrencies"},"content":{"rendered":"\n<div>\n<p>Gary Gensler, the U.S. Securities and Exchange Commission (SEC) Chair, recently stated in an interview that the United States doesn&#8217;t require additional digital currencies. As the SEC files legal action against cryptocurrency exchanges Binance and Coinbase for running unregistered securities exchanges, Gensler emphasized that the U.S. dollar already serves as a digital currency. <\/p>\n<p>Gensler stressed that economies and societies have functioned well with a single medium of value exchange throughout history and that existing fiat currencies such as the dollar, euro, and yen already possess digital representations and can facilitate digital investments.<\/p>\n<p>Despite his reservations about other digital currencies, Gensler acknowledged the potential value of crypto tokens and suggested that &#8220;compliance and trust&#8221; would play a crucial role in shaping the industry&#8217;s future. He said that if these tokens provide actual value, complying with regulatory frameworks can help establish investor trust and potentially drive changes in the business models of crypto exchanges.<\/p>\n<p>The SEC&#8217;s recent lawsuits against Binance and Coinbase accuse both exchanges of violating securities regulations in the United States by operating as a brokerage and clearing house without proper registration. Gensler defended the SEC&#8217;s actions, calling them &#8220;pro-innovation&#8221; and emphasizing the importance of trust and compliance for the efficient functioning of capital markets.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gary Gensler, the U.S. Securities and Exchange Commission (SEC) Chair, recently stated in an interview that the United States doesn&#8217;t require additional digital currencies. As the SEC files legal action against cryptocurrency exchanges Binance and Coinbase for running unregistered securities exchanges, Gensler emphasized that the U.S. dollar already serves as a digital currency. Gensler stressed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7415,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"SEC Chair Says US Dollar is Sufficient as Digital Currency, Opposes Other Cryptocurrencies - Bitrabo","description":"Gary Gensler, the U.S. Securities and Exchange Commission (SEC) Chair, recently stated in an interview that the United States doesn't require additional digital"},"footnotes":""},"categories":[316],"tags":[1551,1064,589,1558,1559,520],"class_list":["post-7413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-chair","tag-currency","tag-digital","tag-doesnt","tag-dollar","tag-sec"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/7413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=7413"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/7413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/7415"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=7413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=7413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=7413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}