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SEC Homing In on Crypto Exchanges

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Mon, 4/04/2022 - 20:29
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SEC Homing In on Crypto Exchanges
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U.S. Securities and Exchange Commission Chair Gary Gensler is considering possible approaches to regulating cryptocurrency trading platforms, The Wall Street Journal reports. 

The SEC will work together with the Commodity Futures Trading Commission in order to rein in crypto trading platforms that allow their users to trade both commodities and securities, as per the report. 

Gensler argues that cryptocurrency exchanges function similarly to traditional exchanges, which is why they have to face the same level of scrutiny.

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Hence, the SEC is focused on extending investor protections to crypto trading platforms.

Gensler has also noted that crypto exchanges take custody of their customers’ assets. Hence, he proposed to separate custody from trading to make it safer to store digital assets on exchanges. 

As reported by U.Today, Gensler has repeatedly asked Congress to help the SEC to regulate cryptocurrency exchanges.  

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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