Elaborating further on the resignation of Gensler was George S. Georgiades, Esq., general counsel at stablecoin payments network Borderless.xyz, who said an SEC Chair who is more open to working with the crypto industry would be a major plus for the ecosystem as a whole.
“The resignation of Chairman Gensler offers an opportunity to move beyond a tenure characterized by ‘regulation by enforcement’ to fostering meaningful engagement between regulators and market participants toward developing a regulatory framework that fosters innovation, protects consumers, and ensures market integrity,” he said in a note shared with Kitco Crypto. “A change in leadership and new approach to governance by the SEC, as well as other agencies, will be instrumental in positioning the United States as a global leader in the advancement of blockchain technology and digital assets.”
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