The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has asked SEC staff to collaborate with the Commodity Futures Trading Commission (CFTC) to develop a new plan to regulate cryptocurrency trading platforms.
SEC Wants to Work With CFTC on Regulating Crypto Exchanges
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, talked about the regulation of cryptocurrency Monday at an event hosted by the University of Pennsylvania Carey Law School.
“The SEC’s remit is overseeing the capital markets,” the SEC chief began, adding that the agency has a “three-part mission: protecting investors, facilitating capital formation, and maintaining fair, orderly, and efficient markets.”
Noting that the SEC is concerned about regulating crypto “platforms, stablecoins, and crypto tokens,” Gensler stressed:
There’s no reason to treat the crypto market differently just because different technology is used. We should be technology-neutral.
The chairman of the SEC said: “I’ve asked staff to consider how best to register and regulate platforms where the trading of securities and non-securities is intertwined.” He elaborated:
In particular, I’ve asked staff to work with the Commodity Futures Trading Commission (CFTC) on how we jointly might address such platforms that might trade both crypto-based security tokens and some commodity tokens, using our respective authorities.
Gensler emphasized that more rules are needed to nadgledati cryptocurrency exchanges citing that retail investors are currently vulnerable to scams and market manipulacija.
The SEC chairman has said many times that many crypto tokens on platforms that have 50, 100, or even 5,000 coins listed are likely securities. He said:
My predecessor Jay Clayton said it, and I will reiterate it: Without prejudging any one token, most crypto tokens are investment contracts under the Howey Test.
Recently, U.S. Senators Kirsten Gillibrand (D-N.Y.) and Cynthia Lummis (R-Wyo.) unveiled their plan to introduce a broad-based regulatory framework for cryptocurrency. According to the framework, some aspects of the industry will be regulated by the CFTC and some will be overseen by the SEC.
Senator Lummis specifically said that the CFTC will have a greater role under the new crypto framework. “When you look at bitcoin and ethereum in particular, it’s pretty clear to me those are commodities,” she objašnjeno.
In August last year, two U.S. lawmakers urged Gensler and the acting chairman of the CFTC to establish a joint radne grupe for the regulation of crypto assets.
What do you think about the SEC working with the CFTC to come up with a regulatory framework for crypto exchanges? Let us know in the comments section below.
Krediti za slike: Shutterstock, Pixabay, Wiki Commons
odricanje: Ovaj je članak samo u informativne svrhe. To nije direktna ponuda ili prikupljanje ponuda za kupovinu ili prodaju, niti preporuka ili potvrda bilo kojeg proizvoda, usluge ili kompanije. Bitcoin.com ne pruža investicijske, porezne, pravne ili računovodstvene savjete. Ni kompanija ni autor nisu direktno ili indirektno odgovorni za bilo kakvu štetu ili gubitak koji je uzrokovan ili navodno prouzrokovan ili povezan s uporabom ili oslanjanjem na bilo koji sadržaj, robu ili usluge spomenute u ovom članku.
Source: https://news.bitcoin.com/sec-chair-gensler-asks-staff-to-collaborate-with-cftc-on-regulating-crypto-exchanges/