According to Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), a single policy should be followed in cryptocurrency regulations.
Speaking before the Senate Banking Committee, Gensler said that the cryptocurrency market multiple institutions inspected by some that complexities can occur told:
“If more than one agency starts deciding what is a security and what is not, it could negatively impact our business.”
According to the SEC Chairman, the decisions to be taken regarding crypto money projects, must come from a single source.
officials in the United States, bitcoin and ether considers it as a commodity. The SEC has ruled that most of the cryptocurrencies outside of this pair in security status suggests it is.
Securities and Exchange Commission, cryptocurrency regulations Commodity Futures Contracts Commission (CFTC) continues to work in collaboration with