SEC chairman criticizes cryptocurrency exchange: business hybridity damages customers' interests

　　SEC（ Securities and Exchange Commission ） chairman Gary Gensler Increased criticism of the digital asset exchange , He believes that some trading platforms are evading the rules , And may personally end up participating in the customer's related transactions .

　　 according to the understanding of ,Gary Gensler Reiterated on Tuesday , Most assets belong to the digital market , therefore , The place where these assets are traded should be registered with the regulator . meanwhile , He said ,SEC We are also strengthening law enforcement .Gensler Express , He is concerned that the cryptocurrency exchange has not established a suitable relationship between its different businesses “ A firewall ”, Such as trusteeship 、 Market making and trading . He thinks that , Mix various businesses together , It may not be in the best interests of the customer .

　　Gensler Express ：“ Cryptocurrency trading platform is facing a variety of challenges . for example , Their transactions may take precedence over the customer's transactions .”“ in fact , They also often deal with customers , Because they are also market makers in the market （ Middleman ）.”

　　 Besides ,Gensler Also mentioned the issue of stabilizing the currency . according to the understanding of , Stable currency is a digital asset linked to the US dollar or other legal tender .Gensler Express , Three stable currencies ——Tether、USD Coin and Binance USD, Are associated with all transactions .“ I don't think it's a coincidence ,” He said ,“ These three stable currencies are all created by the trading platform , So that investors can trade on these platforms , And can help the platform escape AML（ Anti money laundering ） and KYC（ Know your customers ） Audit .”

　　 according to the understanding of , At present, the stable currency with the largest market value Tether, Its market value is 830 Billion dollars , It exchanges with cryptocurrencies Bitfinex Management has a complex relationship .USD Coin Is made up of Coinbase（COIN.US） Issued by a consortium of several companies including . and Binance USD It is connected with the currency security, the largest cryptocurrency exchange in the world , The total market value of the coin is 170 Billion dollars .

　　 in the light of Gensler The comments , Coin Ann said it insisted on stabilizing the issuance of coins “ Strict guidelines , Be transparent to the user community ”,Coinbase and Bitfinex Did not comment . Besides , After trading in US stocks on Tuesday ,Coinbase The share price plummeted , The main reason behind it is that the company's revenue in the first quarter was lower than expected . meanwhile , The company's management warned that , The trading volume in the second quarter will be lower than that in the first quarter .

　　 It is reported that , at present , The price of bitcoin is higher than last year 11 The record high at the beginning of the month fell 50% above . In the past week , Investors' concerns about stabilizing the currency have also increased , Because last weekend , Stable currency TerraUSD Has decided to stop pegging to the dollar . This means that the value of the currency loses the value support of cash or cash equivalent assets . After this , It will rely on market transactions and reserve management of the currency to maintain its value . After the announcement , The price of the currency fell in response .“ To be frank , The chaos in the market may cool the previously overheated digital asset market ,“ Virginia Democrats Warner Express .

editor ： Zhang Jingdi