U.S. Securities and Exchange Commission (SEC) Although its chairman, Gary Gensler, comes from the crypto money industry, he cannot create a presidency as expected. Although Gensler’s very supervisory and regulation-oriented steps drew the reaction of the crypto money industry, Gensler does not seem to take a step back from them.
Investigations into crypto companies have started one after another in the USA, and the last target of this was Binance US.
Gensler Wants More Control
Binance USImmediately after the news spread that . Gary Gensler stated that cryptocurrency exchanges should register directly with the SEC. In such a case, the SEC actually needs to issue licenses to exchanges and recognize cryptocurrencies.
*GENSLER AGAIN URGES CRYPTO EXCHANGES TO REGISTER WITH SEC
*GENSLER SAYS INVESTORS NEED MORE PROTECTIONS IN CRYPTO
— *Walter Bloomberg (@DeItaone) February 15, 2022
Although Gensler states that investors in the crypto money sector need more protection, the comments are actually that the president is restricting crypto money investors.
Although it is not known how the SEC will follow to regulate cryptocurrency exchanges, the SEC needs a law for this. If the Biden administration passes legislation allowing SEC oversight of cryptocurrency exchanges and the Senate passes it, the SEC could gain serious authority.
For now, most of the cryptocurrency exchanges have different regulations in different states, and not all of them are regulated by the SEC.