Cryptocurrency exchanges could face increased scrutiny from the SEC, according to Gensler’s words.
The president of the United States Securities and Exchange Commission (SEC)Gary Gensler said yesterday that he is hopeful that crypto trading platforms will take steps in the coming months to be more directly regulated by US financial regulators. This additional scrutiny is crucial forFor crypto investors to get the kinds of protections they get when trading stocks or other assetsGensler said, as reported Bloomberg.
“I have asked the staff to look at all ways to bring these platforms within the scope of investor protection”Gensler told reporters at a virtual news conference. “If commercial platforms don’t get into the regulated space, it would be another vulnerable year for the public.”
In the past year, Gensler has said countless times that there is a need to regulate the crypto market, as well as go after bad actors in the sector. However, in October he made it clear that he did not intend to ban cryptocurrencies.
In late 2021, the SEC hired a new senior advisor, whose main role is to advise Chairman Gary Gensler on cryptocurrency regulations. The new executive’s name is Corey Frayer, and he previously worked at “Issues such as consumer and investor protection”.
version of DailyBitcoin
Picture of unsplash
WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.