"There’s no reason to treat the crypto market otherwise just because totally different technology is employed," said Gary Gensler.
Gary Gensler, chair of the united states Securities and Exchange Commission, said the agency’s protections that apply to investors of ancient assets ought to be those within the crypto market.
In ready remarks released Monday for the Penn Law Capital Markets Association Annual Conference, Gensler aforementioned he had requested SEC workers to explore obtaining crypto platforms registered, having them subject to identical regulatory framework as exchanges. additionally, the SEC chair said the agency’s workers might be operating towards addressing restrictive clarity within the crypto area by considering the way to register platforms “where the trading of securities and non-securities is intertwined” and whether or not retail crypto investors ought to be afforded identical protections as those in ancient markets.
“Crypto could offer new ways for entrepreneurs to lift capital and for investors to trade, however we tend to still want capitalist and market protection,” said Gensler. “We already have strong ways in which to protect investors trading on platforms. and that we have strong ways in which to safeguard investors once entrepreneurs wish to lift cash from the public. we tend to ought to apply these same protections within the crypto markets.”
The SEC chair other that his staff would explore whether it'd be “appropriate to segregate out custody,” apparently separating the registration regime for platforms providing custody and people that don’t.
“There’s no reason to treat the crypto market differently just because different technology is used.”
( Turner Wright, Cointelegraph, 2022 )