Full text of Gensler's CNBC speech: SEC is ready to collaborate with the crypto industry to achieve compliance.

On the evening of June 6th, SEC Chairman Gary Gensler made some explanations and clarifications regarding the lawsuit against Binance while attending the CNBC TV program Squawk on the Street. Gensler once again emphasized the importance of "compliance" and stated that the SEC is always ready to cooperate with the cryptocurrency industry to achieve compliance. BlockBeats has compiled and translated the content of his speech as follows:

Here is the original statement from Gensler:

Cryptocurrencies should be no different from other securities and require compliance.

We have already digitized currencies such as the US dollar and the euro, and do not need more digital currencies. Cryptocurrency trading platforms are integrating more functions, and the platform provides fraud networks where some people try to evade the law.

If the encrypted token has real value, then compliance with SEC regulations will establish trust.

SEC is always ready to cooperate with the encryption industry to achieve compliance.

Fund managers also need to comply with cryptocurrency custody rules, but some cryptocurrency companies adopt an attitude of "if we can't be caught, it doesn't matter". It is not compliant to custody funds and encrypted securities on platforms like Binance, or rather, they have not properly separated qualified custodians on the Binance platform.

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