Friday, June 18

Gary Gensler: There Should Be A Federal Regulatory Regime Around Crypto Exchanges That Protects Investors

gary gensler

The chairman of the US Securities and Exchange Commission (SEC) has renewed his call to regulate cryptocurrency exchanges.

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During the Global Exchanges & FinTech virtual conference hosted by Piper Sandler, Gary Gensler called for the creation of a federal regulatory regime to ensure investor protection:

“Crypto-assets are largely traded on exchanges and there must be regimes around the public to protect investors. We need a federal regime where they are registered and regulated.”

While the SEC warned Congress last month about fraud and market manipulation, it also called on crypto trading platforms to bring regulatory clarity.

Gensler said in a recent CNBC interview that crypto assets should have the same protection as stocks and commodities:

“Investors don’t have the full protection they have in equity markets or commodity futures markets… Bitcoin (BTC) and these other cryptocurrencies don’t have that full protection.”

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