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Bitcoin And Crypto Are Transformative Technologies, Biden’s SEC Chair Nominee Says

A lot of people have been wondering how the new US administration feels about Bitcoin and crypto, and it seems that things are not as dark as some might have initially thought.

It’s been just revealed that President Biden’s pick to run the US SEC said that Bitcoin and crypto are triggering a transformational change in the world of finance.

According to the online publication the Daily Hodl, in a Senate confirmation hearing, Gary Gensler told lawmakers that Bitcoin and crypto assets are paving the way for a new financial era.

Regulators must see that investors are safe

More than that, he believes that regulators must ensure investors are safe.

“These innovations have been a catalyst for change. Bitcoin and other cryptocurrencies have brought new thinking to payments and financial inclusion, but they’ve also raised new issues of investor protection that we still need to attend to.”

Gensler also addressed how he plans to deal with digital assets if he is confirmed to lead the SEC.

“I’d work with fellow commissioners to both promote the new innovation, but also at the core, ensure for investor protection,” he said.

He also made sure to point out the fact that “If something were a security, for instance, it comes under the securities laws, comes under the SEC. If there are exchanges that trade those, to ensure that there’s the appropriate investor protection on those exchanges, so promote technology but still stay true to our core values of investor protection and capital formation.”

Bitcoin mass adoption

You are probably aware of massive companies that support Bitcoin and crypto adoption, such as MicroStrategy, Tesla, and more.

Now, it seems that Netflix could be hopping into the BTC wagon as well. Check out the latest news. Tim Draper predicts that Netflix will be the next big company that will support the mass adoption of Bitcoin and will invest in the king coin.

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