SEC chairman Gary Gensler emphasizes that crypto trading platforms have to be regulated to ensure investor protection-regulation

The US Securities and Exchange Commission (SEC) focuses on "bringing cryptocurrency exchanges" into the area of ​​investor protection ", the chairman Gary Gensler unveiled. "If the trading platforms do not get into the regulated area, it would be another year in which the public is vulnerable," he emphasized.

SEC focuses on the regulation of crypto borns

The chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, spoke on Wednesday in a virtual press conference on cryptor regulation and the priorities of Sec.

Gensler said he hoped that the trading platforms for cryptocurrencies would take steps in the coming months to be regulated more directly. The chairman emphasized that an additional supervision of crypto trading platforms for crypto trading investors is crucial in order to obtain the same protection that you have when trading stocks or other regulated financial instruments.

"I asked the employees to check all the options to bring these platforms into the area of ​​responsibility of investor protection," said the SEC boss and stated:

If the trading platforms do not come into the regulated room, it would be susceptible to the public for another year.

Gensler has repeatedly expressed the need to regulate trading platforms for cryptocurrencies. He believes that many of them act securities without registering. In May last year he said crypto exchanges need more regulation and asked the congress, to interfere.

"We don't have enough investor protection in the areas of cryptofinancing, emission, trade or lending," he said Warned in September. "At the moment it is more like the Wild West or the old world of the 'buyer caution' that existed before the securities laws were issued."

in December the chair said that the crypto Fraud, fraud and abuse is, "and emphasizes:" At the moment we just don't have enough investor protection in Krypto. "

What do you think that the SEC follows the exchange of cryptocurrencies? Let us know in the comment area below.

Kevin Helms

As a student of Austrian economics, Kevin Bitcoin discovered in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economy and cryptography.

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