SEC Chair Gensler: Existing rules regulate crypto, legislation unnecessary
The Securities and Exchange Commission takes the lead in defining what a security is, not necessarily legislation, the regulator's Chair Gary Gensler said. After a House Appropriations Committee hearing on Wednesday, Gensler told reporters that existing securities laws "cover most of the activity that's happening in the crypto markets.". Lawmakers have introduced legislation over the years to regulate crypto.
Sens. Kirsten Gillibrand, D-N.Y., and Cynthia Lummis, R-Wyo., have plans to reintroduce legislation next month that would, in part, assert that the Commodity Futures Trading Commission has control over digital asset commodities, such as bitcoin. The hearing came days after the CFTC sued the world’s largest crypto exchange, Binance, for unregistered trading activity and highlighted some major revelations in its 74-page complaint. Some of those include Binance possibly knowing that it helped facilitate illegal transactions. Gensler declined to answer whether the agency planned to bring its own actions.
Source
https://t.me/Bitcoin_NewsTg
