U.S. SEC Chair Gary Gensler testified before a Senate Committee about the U.S. markets and listed various areas of focus in relation to the crypto markets.
- The US SEC Chair offered some insights into how he visualizes the crypto currency regulations. Gensler included that most crypto platforms will need to register with the SEC.
- Gensler clarified that his opinions were independent and did not represent the views of other members of the SEC. He opened his testimony by acknowledging that the U.S. holds an impressive 38% of the global markets, which cannot be understated.
- He went ahead to list some broad categories which represent the SEC’s agenda, including market structure, predictive analytics, issues, and issuer disclosure, and investment management.
- The SEC head also recognized that today’s regulations are not in line with the pace of technological development, indirectly referencing the likes of Robinhood and other crypto trading platforms.
Gensler calls for platforms and projects to engage with the SEC and says that there are several tokens that likely qualify as securities. Finally, he sent an ultimatum-these assets would have to register with the SEC if they are to be recognized as securities.
BTC USD up +4.13%Source: US Senate.