Gensler Accused by JPMorgan and Financial Regulators of Jurisdictional Overreach and Disrupting Well-Functioning Markets
Under the watchful eye of Chair Gary Gensler, the U.S. Securities and Exchange Commission (SEC) seems to be on a relentless mission to stifle innovation and progress in the crypto space. The agency has recently proposed a contentious new rule that would mandate investment advisers to entrust their clients’ crypto assets with “qualified custodians”. However, this heavy-handed regulatory approach has provoked criticism from a broad range of stakeholders, including JPMorgan and the Small Business Administration (SBA), amongst others.
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