The Securities and Exchange Commission (SEC) is of the view that digital currencies should be regulated under existing securities laws.
SEC head Gary Gensler is taking the toughest possible option to legalize the Cryptocurrency industry. He calls on the government and Congress to give his agency the right to control the cryptosphere.
The day before, Gensler spoke at an event organized for derivatives market participants and reiterated his position on Crypto regulation.
Cryptosphere-oriented businesses place Tokens to attract investment. Therefore, such businesses should be regulated by the SEC under the securities laws.
The Commodity Futures Trading Commission (CFTC) has nothing to do with digital assets, so it cannot be given the right to control such instruments.
In addition, Gary Gensler once again demanded that Cryptocurrency exchanges register with the SEC.