SEC chief urges to speed up registration of cryptocurrency exchanges
Gary Gensler believes that digital asset trading platforms should be handled the same way as securities exchanges
29.07.2022 - 11:10
357
2 min
0
What’s new? The US Securities and Exchange Commission (SEC) Chair Gary Gensler has instructed his staff to interact directly with cryptocurrency exchanges so that they could be registered and regulated. He posted a video on Twitter stating that “there’s no reason to treat the crypto market differently just because a different technology is used.” Gensler believes that the regulator should work with crypto exchanges the same way it works with securities exchanges.
We have rules in our capital markets to safeguard market integrity & protect against fraud & manipulation. If a company builds a crypto market that protects investors & meets the standard of our market regulations, people will more likely have greater confidence in that market. pic.twitter.com/ZxdBfvmqXP— Gary Gensler (@GaryGensler) July 28, 2022
What else did the SEC’s Chair add? According to Gensler, officials on markets oversight are also developing ways to register certain coins as securities. In addition, the agency’s staff are looking at options to address conflicts of interest arising from the fact that crypto exchanges can also act as market makers.
In June, Gensler invited other financial agencies to join forces to develop rules for crypto regulation. He noted that he was working on a “memorandum of understanding” with the Commodity Futures Trading Commission (CFTC). The regulators will share information about digital assets.
In July, the SEC launched an investigation into crypto exchange Coinbase. The regulator suspects it of selling unregistered securities.
Useful material?
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024