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SEC
Policy

SEC's Gensler Wants Greater Scrutiny for Crypto Exchanges: Report

"I've asked staff to look at every way to get these platforms inside the investor protection remit," he said.

By Jamie Crawley
AccessTimeIconJan 20, 2022 at 12:52 p.m. UTC
Updated May 11, 2023 at 4:30 p.m. UTC
Gary Gensler, Chair of the U.S. Securities and Exchange Commission. (Evelyn Hockstein-Pool/Getty Images)
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Chairman of the U.S. Securities and Exchange Commission (SEC) Gary Gensler wants to apply greater pressure on crypto exchanges to bring them inside the market regulator's purview.

  • Gensler aired his concerns about the dangers to consumers if crypto exchanges are not properly regulated in a virtual press conference on Wednesday, according to a report by Bloomberg.
  • "I've asked staff to look at every way to get these platforms inside the investor protection remit," he said.
  • "If the trading platforms don't come into regulated space, it'd be another year of the public being vulnerable," he added.
  • Gensler had previously expressed his desire to see crypto exchanges registered with the SEC for the purposes of investor protection.
  • In December, he said in an interview that exchanges are "doing a lot more than just trading," given how they also hold crypto tokens and sometimes trade against their customer base.
  • Gensler, during his nine-month reign as chairman of the SEC, has maintained his stance that most crypto tokens are akin to securities and are therefore within the remit of the regulator.

Read more: SEC Commissioner Hester Peirce Says Washington Doesn’t Need a New Crypto Regulator

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Jamie Crawley
Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

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