{"id":62341,"date":"2022-02-12T09:00:44","date_gmt":"2022-02-12T09:00:44","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=62341"},"modified":"2022-02-12T09:00:44","modified_gmt":"2022-02-12T09:00:44","slug":"sec-working-with-cftc-on-crypto-regulation-says-chairman-gensler","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=62341","title":{"rendered":"SEC Working With CFTC on Crypto Regulation, Says Chairman Gensler"},"content":{"rendered":"

\"US<\/p>\n

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says the securities regulator is working with the Commodity Futures Trading Commission (CFTC) on crypto regulation. In addition, he said the SEC is \u201ctrying to work with various crypto platforms, exchanges, lending platforms\u201d to ensure investor protection.
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<\/strong>\n<\/p>\n

SEC Chair Gary Gensler on Crypto Regulation<\/h2>\n

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\nSEC Chairman Gary Gensler talked about cryptocurrency regulation in an interview with Bloomberg this week. \u201cWe do have a broad agenda and crypto is part of that agenda,\u201d he began.<\/p>\n

Commenting specifically on crypto regulation, the SEC boss affirmed that \u201cThe agency is really just looking out for investors,\u201d emphasizing that \u201cmany of these tokens have the attributes of securities.\u201d He further explained, \u201cThey are raising money from the public, and the public is anticipating profits based on the efforts of others.\u201d<\/p>\n

Gensler described:\n<\/p>\n

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We brought a number of actions. We\u2019re trying to work with various crypto platforms, exchanges, lending platforms \u2026 to get investor protection for the public.<\/p>\n<\/blockquote>\n

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\n\u201cIf you are a platform and you have 75, or a hundred, or 5,000 tokens on the platform, the possibilities are that a number of them, and maybe many of them, are what\u2019s called a security,\u201d Gensler stressed.<\/p>\n

A recent report shows that the SEC has taken at least 97 enforcement actions<\/a> on crypto companies and individuals so far. Gensler has also said that crypto is one of the top priorities at the SEC.<\/p>\n

The SEC chairman explained: \u201cThe SEC is going to try to pursue investor protection and if that means bringing greater enforcement actions, then we\u2019ll do that. But it would be better to have these platforms come in, work with us, and come under the securities law.\u201d<\/p>\n

He insisted: \u201cThe laws are pretty clear as laid out in the 1930s, and we have an ability to work with these exchanges using various authorities\u201d to tailor some of the existing rules for the crypto industry. He admitted that crypto platforms do not operate like traditional exchanges.<\/p>\n

The SEC chairman further noted that \u201cit would be helpful to work with Congress on some things.\u201d Nonetheless, he said, \u201cunless Congress said otherwise, we have to ensure there\u2019s investor protection in this space.\u201d Gensler continued:\n<\/p>\n

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We are going to work with the Commodity Futures Trading Commission (CFTC) where there are some commodity tokens. While many of these are securities, some may be under their remit. We work together as two federal agencies.<\/p>\n<\/blockquote>\n

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What do you think about Gensler\u2019s comments? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says the securities regulator is working with the Commodity Futures Trading Commission (CFTC) on crypto regulation. In addition, he said the SEC is \u201ctrying to work with various crypto platforms, exchanges, lending platforms\u201d to ensure investor protection. SEC Chair Gary Gensler on Crypto […]<\/p>\n","protected":false},"author":2,"featured_media":62342,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-62341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/62341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62341"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/62341\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/62342"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}