WASHINGTON :The head of the U.S. securities regulator said on Monday the agency was 'disappointed' with a judge's recent ruling that Ripple Labs Inc did not violate federal securities laws in a major blow to its efforts to rein in the cryptocurrency sector.U.S. Securities and Exchange Commission Chair Gary Ge
WASHINGTON :The head of the U.S. securities regulator said on Monday the agency was"disappointed" with a judge's recent ruling that Ripple Labs Inc did not violate federal securities laws in a major blow to its efforts to rein in the cryptocurrency sector.
While the decision is specific to this case, it likely will provide ammunition for other crypto firms battling the SEC over whether their products fall under the regulator's jurisdiction. The SEC will need"new thinking" to confront challenges to financial stability presented by the use of technologies such as predictive analytics and machine learning, according to Gensler.
AI could also amplify the world financial system's interconnectedness, something for which current risk management models may not be prepared, Gensler said.
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