New SEC Chairperson Gary Gensler is hinting at tougher oversight for cryptocurrencies and blank-check companies, two of the market's hottest asset classes.
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Gensler wants to bring the kind of protections to cryptocurrency exchanges that a stock investor would get on the New York Stock Exchange or Nasdaq platforms. Photo: Reuters
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SEC Chair Gary Gensler told lawmakers that special purpose acquisition companies and digital coins posed significant policy and investor-protection questions.
SEC head Gary Gensler said he wants to bring the same kind of protection to crypto exchanges that an investor in a New York Stock Exchange-listed company would expect
US SEC wants to work with Congress to regulate crypto exchanges SEC head Gary Gensler said that the authority spends only $325 million per year on tech, which is less than some industry players spend in two weeks. 9913 Total views News
The United States Securities and Exchange Commission is looking to cooperate with Congress and other regulators to increase its oversight of cryptocurrency exchanges.
Gary Gensler, the newly appointed chairman of the SEC, said that the commission is looking forward to working with fellow regulators and Congress to fill gaps in investor protection in crypto markets.
The official announced the plans at a Wednesday hearing before the Financial Services and General Government subcommittee of the House of Representatives.