Chair of the Securities and Exchange Commission (SEC) Gary Gensler is intensifying the regulator’s work on extending regulation over the crypto industry.
In his latest testimony at the US Senate, the official declared he has a 'flexible' way for tokens to register with the agency, but his previous crypto-skeptical comments indicate crypto industry players could have a different view on the SEC’s approach.
Gensler told the US Committee on Banking, Housing, and Urban Affairs that among “the nearly 10,000 tokens in the crypto market” he believes that “the vast majority are securities.”
“Thus, I’ve asked the SEC staff to work directly with entrepreneurs to get their tokens registered and regulated, where appropriate, as securities. Given the nature of crypto investments, I recognize that it may be appropriate to be flexible in applying existing disclosure requirements,” he said.
Could the SEC help institutional adoption?
Gensler also suggested that the SEC could intensify its...
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