SEC pledges tougher oversight of Bitcoin exchanges

Crypto exchanges will be the main focus for the U.S. Securities and Exchange Commission (SEC) as part of a widening crackdown on digital assets, according to Bloomberg.

SEC Chair Gary Gensler said he hopes that in the coming months trading platforms for digital assets will take steps to be regulated more concretely by the agency.

In his view, additional oversight is crucial to provide crypto investors the same protections as those afforded when trading stocks or other traditional assets.

Earlier Gensler urged Congress to develop a regulatory framework for Bitcoin exchanges and expand investor-protection rules to platforms.

He repeatedly invited trading venues to engage in dialogue with the SEC.

In his view, regulation is necessary for the survival of cryptocurrencies. The Commission does not plan to ban digital assets.

Earlier, in November 2021, Congressman Glenn Thompson introduced for public discussion a bill proposing a voluntary regulatory regime for crypto exchanges under the auspices of CFTC.

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