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Gary Gensler on Fintech regulation and Blockchain for Biden SEC

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Vandana Mrigwani Follow

INDIA

Jan, 26 2021

Jan, 26 2021

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President Joe Biden broadcast Jan. 18 he will recommend MIT Sloan professor Gary Gensler to lead the Securities and Exchange Commission. Gensler united the MIT Sloan faculty in 2018. He formerly led the Commodity Futures Trading Commission beneath the Obama administration.

 

In his phase at MIT, Gensler’s instruction and research have focused on Blockchain technology, financial technology, digital currencies, and public policy. Under are a collection of ideas and insights from Gensler, together with a recent working paper on deep knowledge and financial stability, and two free MIT Open Courseware classes he established.

 

The new research: financial stability and deep learning:

 

In November 2020 at work paper co-authored with study associate Lily Bailey, Gensler clarifies how deep learning “may top to financial system instability and economy-wide risks.” Gensler and Bailey claim that current risk management implements are inadequate and propose “policy tools that might alleviate these systemic risks.”

 

3 forces re-forming the finance industry

 

In April 2019, Gensler and Wall Street veteran Richard Berner talked over trends they were watching carefully in finance: the future of brick-and-mortar banks, monetizing data, and Fintech regulation.

 

Is cryptocurrency security?

Is a crypto token an investment? Or is it a commodity? Gensler said in May 2018 stated it is binary, though it is not the right reply it is chased.

 

Forecasts for the future of financial regulation

Linking a December 2019 board of policy experts, Gensler remarked on what banks will look like in 10 to 20 years and how Big Tech was dragging in advance of big banks in China.

 

What students educated in Gensler’s ‘Blockchain and Money’ class

Presently after joining MIT Sloan, Gensler in July 2018 showed his first class, which discovered the basics of Blockchain and its concrete application in the finance sector. The lesson is available free from MIT OpenCourseware.

 

*Source: mitsloan.mit.edu/ideas-made-to-matter/biden-sec-pick-gary-gensler-fintech-regulation-and-blockchain


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Vandana Mrigwani

CBW - External Analyst

INDIA

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