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SEC Chairman Gary Gensler says that there is no need to treat the crypto market differently from other capital markets. Noting that “the SEC will serve as the cop on the beat,” Gensler encouraged crypto trading and lending platforms “to come in and talk to SEC staff.” SEC Chairman Gensler on Crypto Regulation The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, authored an opinion piece published in the Wall Street Journal Friday on how crypto assets should be regulated. He described: There’s no reason to treat the crypto market differently from the rest of the capital markets just because it uses a different technology. “Recent market events show why it is critical that crypto firms comply with securities laws,” Gensler explained. “In recent months, some crypto lending platforms have frozen their investors’ accounts or gone bankrupt. When it comes to bankruptcy, these investors have to get in line at the court.” The SEC chief stressed that no matter

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After seeing Ghana’s inflation rate surge to 31.7% in July, the Bank of Ghana responded by hiking the benchmark interest rate by 300 basis points. In addition to the rate hike, the central bank said it will gradually raise banks’ primary reserve requirements. One expert has said President Nana Akufo-Addo must trim the size of his government. Largest Benchmark Rate Hike Since 2002 In an attempt to tame the country’s runaway inflation rate, which topped 31.7% in July, the Ghanaian central bank hiked the benchmark interest rate by 300 basis points. Following the latest hike, which is the largest increase on record since 2002, Ghana’s benchmark interest rate is now 22 percent. According to a Bloomberg report , the latest increase means Ghana’s benchmark rate has now risen by 550 basis points since November 2021. In addition to increasing the benchmark rate, the Bank of Ghana (BOG) revealed in its emergency monetary policy committee (MPC) press release that it plans gradually increase b

Iran’s association of importers has stressed the need for a stable regulatory framework for cryptocurrencies now that the Iranian government is officially using crypto to pay for imports. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” a government official said. Imports Association: Iran Needs Stable Crypto Regulation Alireza Managhebi, the chairman of Iran’s Importers Group and Representatives of Foreign Companies (Imports Association), voiced concerns about the country’s crypto regulation Saturday, local media reported. He stressed that a stable regulatory framework for cryptocurrencies should be established for cryptocurrencies to be successfully used as a means of payment for imports. Noting that crypto can be useful in this regard under the right regulatory infrastructure, Managhebi said: Our main and most important concern is that this new method cannot be exploited by some people. “The