From the link posted above, I saw an informative reason why Gary Gensler is finding it difficult for the regulation, because US regulators see Bitcoin more as a commodity rather than a security while many other cryptocurrencies are still benefitting from. But, come to think of it, Bitcoin is actually a commodity.
In the Aspen Security Forum, Gensler requested authority from the US Congress to regulate cryptos strongly describing them as a Wild West full of fraud, scams and abuse.
Even, it is from the ancient era money has been known as the route of all evils, that does not change the fact that one of the deadliest terrorists (Boko Haram) abducted female school children in my country and demanded for ransom from the federal government, clearly the government paid and obviously will be in Fiat. Recently in my country, the rate of kidnapping has increased while the bad actors are demanding for ransom, even it is not new again that kings are kidnapped in my country by bandits, they are demanding for Fiat. Other kidnappers are still also abducting people while ransom is their aim, all yet in Fiat in my country, because if bitcoin or any other cryptocurrency is demanded for are known, it would have been all over the news. Before the creation of Bitcoin, the deadliest terrorists were deadly, their were frauds and the likes. People do not blame Fiat at the time, but why blaming cryptocurrencies. Did you know that Fiat can be so untraceable if appropriately used by criminals? Because if adequately traceable, there should be no more terrorists, there should be no more bandits in my country because all the fundings are through Fiat.
I couldn't read the article because I refuse to turn off my ad blocker in order to do so--but that won't keep me from calling this guy a cunt anyway.
I saw the link to the original article while reading the article
New SEC Boss Wants More Crypto Oversight to Protect Investors
They want to regulate exchanges and other custodial services as they wanted before, I did not read anything like noncustododial wallets aside DeFi lending. We all know that if not someone's key, not someone's coin on blockchain, and also that if someone do not go for noncustodial wallet, the person will not have full control, because the private key gives the full control.
SEC Chair Gary Gensler said crypto would take off only if there were clear rules around the market. He said investors needed more protection from fraud and suggested he wanted to focus on exchanges. He said the SEC was looking at at least seven crypto areas, including DeFi, stablecoins, and ETFs.
The seven key areas: initial coin offerings, trading venues, lending platforms, decentralized finance, stable value coins, custody, and ETFs and other coin funds.