The SEC chairman calls for a set of rules for crypto to avoid gaps in the supervision

The chairman of the US IPO supervisory authority Securities and Exchange Commission aims to make agreements with other financial authorities to prevent operators of cryptocurrencies from slipping through the scratch of the fragmented regulatory structure of the USA.

Gary Gensler said the Financial Times that he and his colleagues at the Commodity Futures Trading Commission via a formal agreement to ensure that trading with digital tokens has appropriate safety precautions and transparency.

his proposal comes because the efforts of the US authorities to monitor cryptocurrencies are involved in Washington's politics, which may reduce the influence of the Sec on digital assets. The legislator on the Capitol Hill heals to clarify what is legal and who is responsible for the supervision.

The SEC and the CFTC have concentrated on different aspects of the financial markets in the past and rarely work together. The SEC mainly supervises securities and CFTC derivatives; Cryptocurrencies may span both markets.

At the same time, the fines increase from enforcement measures. U.S. regulatory authorities have collected $ 3.35 billion in crypto enforcement measures since Bitcoin's emergence in 2008, according to government data, which were put together by the British crypto analysis company Elliptic, including $ 179.7 million in the first six months of this year. More than 70 percent of the penalties were on the SEC.

Gensler said he was working on a “memorandum of understanding” with the CFTC, which he headed from 2009 to 2013. The SEC is responsible for platforms that list token that are considered securities.

If a token that represents a goods, is noted on a platform that is supervised by the SEC, the securities supervision would "forward this information to the CFTC," said Gensler. The CFTC rejected a statement.

"I speak of a set of rules on the stock exchange that protects the entire trade regardless of the couple-[bei it] a security token versus security token, security token token token token versus commodity token" to protect investors from fraud and to create front-running, manipulation via order books, Gensler.

The market for digital assets has been recorded by the effects of falling prices in the past few months. The Bitcoin Prize fell by a record high of almost $ 70,000 in November by more than two thirds. Excesses have dismissed personnel and some credit platforms have prevented customers from lifting assets.

Gensler was one of the most voluntary regulatory authorities who demanded a stronger supervision of cryptocurrencies and asked the platforms to discuss whether they should register with his agency.

"By preserving this market integrity envelope, a set of rules will really help the public on a stock exchange," he added. "If this industry takes a way forward, it will build better confidence in these markets."

But a non-partisan bill, which was introduced by the US senator Kirsten Gillibrand and Cynthia Lummis, has proposed a crypto regulatory framework that would expand the powers of the CFTC, based on the assumption that most digital assets were more like securities.

The agency traditionally focused on goods in terms of goods such as futures and options than on goods themselves.

Rostin Behnam, who was appointed CFTC chairman in January, said the FT at the beginning of this year that there could be "hundreds, if not thousands" of tokens that qualify as goods, including Bitcoin and ether.

The regulation of cash crypto markets "could be a natural addition to us," he said. I think the idea "that we are not suitable is something wrong," he added.

"markets are markets, regardless of whether they are derivatives, stocks or fixed -interest securities," said Behnam. "There is always a natural relationship between.. Derivats in general and cash markets."

Both he and Gensler refused to comment on whether the expansion of the jurisdiction of the CFTC for crypto would lead to friction with the seconds or create confusion.

Behnam said that the legislation would "go very far to clarify this very delicate and difficult question which coins were and which securities represent".

The draft law of Gillibrand and Lummis did "very good work" in the distinction between securities and raw material brands, said Behnam at a conference at the beginning of this month.

At an event a few days later, Gensler did not comment on the draft law, but warned against undermining existing protective measures in a “$ 100th capital market”.

he added: "We do not want" stock exchanges or investment funds "accidentally say with a stroke: 'Do you know what? I want to be.