SEC Chairman Emphasizes Record in His Scheduled Speech on Cryptocurrencies

Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), plans to emphasize that some cryptocurrency platforms may have to register with the SEC in his statements today before a committee under the Senate.

Gensler, whose part of his statement was published before the Banking, Housing and Urban Affairs Committee, is about cryptocurrencies, similar to the statements he made in the past. illegal activities and measures taken to protect investors getting ready to stand.

The Banking, Housing and Urban Affairs Committee session, in which Gensler will testify, is expected to start today at TSI.

According to the published transcript, the following statements will be included in Gensler’s speech:

“Many platforms have tens or hundreds of tokens. While the legal status of each token will depend on its fact and situation, on any platform holding 50, 100 or 1,000 tokens to be of no value The probability is quite low. And have no doubt; If they are not exempt, these trading platforms are required by law. they hold securities must register with the Commission.”

A similar approach at the beginning of august Gensler, who also expressed in his statements, thus reiterates the thought that some cryptocurrency trading platforms may have to register with the SEC.

“Currently in crypto finance, issuance, trading or We do not have enough safeguards to protect investors in lending.” Gensler said that they are working with the US Commodity Futures Trading Commission (CFTC) to protect investors.

In a letter to Senator Elizabeth Warren, a member of the banking committee, the chairman of the SEC, who is vague about the boundaries of its jurisdiction due to the uncertainty of the commodities and securities separation in the cryptocurrency context, said that as the SEC, the SEC can spy on cryptocurrency “transactions, products and platforms”. “more authority” Said they needed it.

Image: SEC Chairman Gary Gensler (Wikimedia Commons, image modified by Koin Bulletin)