US Securities and Exchange Commission (SEC) Chairman Gary Gensler said the agency is prepared to take “strong measures” if needed to protect investors.
In a recent interview with Bloomberg, Gary Gensler suggested that cryptocurrency exchanges and lending platforms voluntarily partner with the agency under existing securities laws. In his opinion, this will simplify the process of regulating the industry, as well as set the right tone in the relationship between the cryptocurrency business and the SEC.
Gensler said that if it is necessary to defend the interests of investors, the agency is ready to take tough measures and force companies to cooperate. Many members of the cryptocurrency community in the US believe that the laws passed in the 1930s need to be revised, as they are outdated and not suitable for new technologies. However, Gensler denied these claims:
“The laws laid down in the thirties are quite clear, there is no need to change anything. In addition, we have different authorities, and we can use an individual approach to work with cryptocurrency exchanges,” he said.
Gensler once again recalled that many digital currencies traded on exchanges have signs of securities, and therefore fall under the jurisdiction of the SEC. Recall that in January, the Commission banned MicroStrategy from indicating BTC in its reports as an asset.
Source: Bits
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