SEC Chair Outlines Plan to Register Digital Assets as Securities

The U.S. Securities and Exchange Commission (SEC) is stepping up efforts to regulate and register cryptocurrency platforms. This was stated by the agency’s chair, Gary Gensler, Bloomberg reports.

The chair urged staff to engage with bitcoin exchanges in the same way as stock exchanges are regulated.

Gensler noted that the SEC is working on ways to register certain digital assets as securities:

“There is no reason to treat the cryptocurrency market differently simply because a different technology is used.”

SEC is also examining ways to eliminate potential conflicts of interest when crypto platforms simultaneously act as market makers, he added.

Earlier, Gensler stated that the majority of cryptocurrencies fall under the SEC’s jurisdiction, and exchanges that work with them must register with the agency.

According to the official, crypto investors need protection, and the public would benefit from tighter oversight in the digital asset space, especially when it comes to supervision of service providers.

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