Novogratz Basshed Gensler wants to become the sheriff of Cryptoville

Galaxy founder Mike Novogratz hit Gensler, the chairman of the SEC, saying he was looking for crypto, but that doesn’t mean it has to be bad, so let’s see what else he has to say on the news Has. Our BTC today.

Mike Novogratz suggested Gensler, commenting on the organization’s crypto adoption topic that “the crush is coming,” but the law doesn’t have to spell doom. SEC chairman Gary Gensler did not enter the Messari Mainnet conference in New York, but he did an interview with the Washington Post and he called cryptocurrencies a highly speculative asset and his comments contributed to Tuesday’s market correction.

During Wednesday morning’s session at the conference, Novogratz was clear when asked about Gensler, saying:

“Gary is smart, there is absolutely no doubt that he is smart. There is also absolutely no doubt that he wants to regulate cryptocurrencies. As clear as possible. He wants to be the sheriff of Cryptoville. “

Gensler also used his interview to argue with DC lawmakers that the SEC is the best agency for regulating markets and that capital-raising protocols only drive growth:

“Probably [lending platforms] there are thousands of tokens and they most likely have securities investment contracts or promissory notes or other contracts that fit the definition of a security on these platforms, there will be problems on credit or trading platforms. “

The SEC recently strengthened its muscles by urging Coinbase to ditch the Lend product before it could hit the market. Coinbase had planned to use the project for high returns on other cryptocurrencies that are held on the exchange, and BlockFi and Celsis run their own crypto interest accounts that have been blocked by several agencies. However, Novogratz is not in the crypto lending business. His current focus is on how to get an SEC-approved crypto ETF. Galaxy Digital has partnered with investment management firm Invesco to come up with a new Bitcoin ETF proposal. ETFs are the holy grail of crypto investing as they trade like stocks and are incorporated into bond portfolios. He’s also not worried about wasting his time as he suggested DC language and teach crypto lawmakers:

“The SEC is going there,” he said. “I’m sure. I don’t know when, but I’m sure you will get there.”

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