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WASHINGTON—Securities and Exchange Commission Chairman Gary Gensler expressed concern Tuesday that efforts in Congress to write legislation for the cryptocurrency industry could compromise regulations that govern the broader capital markets.
Asked about a bill introduced last week by Sens. Cynthia Lummis (R., Wyo.) and Kirsten Gillibrand (D., N.Y.), Mr. Gensler initially demurred, saying he would prefer to discuss the proposed legislation with the senators. But he then suggested that legislative changes targeting cryptocurrencies could have implications for stock exchanges or mutual funds.
“We don’t want to undermine the protections we have in a $100 trillion capital market,” Mr. Gensler said at The Wall Street Journal’s CFO Network Summit. “Like behaviors should have like treatment.”
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