Gary Gensler, Biden’s pick for SEC Chairman, on “Cryptocurrency and Illicit Activity”

We don’t really want illicit activity to move to this new technology and in the U.S. and most countries it’s pretty clear that the tax regimes this is property and its not currency. The anti-money laundering and anti-terrorist regimes that you’ve got to keep track of who buys and sells this.

I think its pretty clear in that space.

I think where its less clear, if you wish, is in the investor protection space.

I think guarding against illicit activity, you still have to pay your taxes if you buy and sell this stuff. It’s property and you really can’t fund terrorist or try to promote the dark web or drug trafficking.