Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), wants SEC officials to collaborate with crypto projects to work on a “flexible” way for them to be registered as securities.
SEC Chairman Gary Gensler Softens His Attitude On Cryptocurrency Regulatory
In a written statement to the Senate Banking Committee, which he will attend tomorrow as part of a regular supervisory session, Gensler said:
“I asked staff to suggest a way to allow both security and non-security crypto tokens to be traded against or in conjunction with each other when working to register cryptocurrency securities brokerages.
Given the nature of crypto investments, I recognize that it may be appropriate to be flexible in applying current disclosure requirements.”
Gensler reiterated the SEC’s long-held view that “most crypto tokens are securities” and that “many brokers, whether they call themselves centralized or decentralized, should register with the SEC”, referring specifically to decentralized finance.
Gensler’s recent statements soften his stance on crypto last week, when he dismissed complaints from the crypto industry that it lacked clear guidance.
“Over the past 5 years, the SEC has spoken very clearly,” Gensler said at a law conference in Washington.
However, although Gensler believes that most assets in the crypto sector are securities, bitcoin and Ethereum He made statements that they could be qualified as commodities for
*Not investment advice.
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