‘It’s Not That Decentralized’: SEC Chair Gary Gensler Hesitant On Bitcoin, Calls It ‘Just An Accounting Ledger’
Securities and Exchange Commission (SEC) Chair Gary Gensler on Wednesday addressed the ongoing debate surrounding Bitcoin (CRYPTO: BTC) and other cryptocurrencies, expressing concerns about investor protection and highlighting the asset’s association with illicit activities. A ‘Clever’ Accounting Ledger In an interview with CNBC, Gensler argued that financial systems tend towards centralization and questioned the decentralization of Bitcoin: “We have a handful of three to six core so-called crypto exchanges.” When asked about the decentralization of the Bitcoin network itself, Gensler said “it…