Cryptocurrencies
SEC Chief Says Crypto Exchanges Need Regulatory Oversight
Crypto Exchanges Focus for Gensler as SEC Cracks Down on Tokens
Gary Gensler
Photographer: Bill Clark/CQ Roll Call/Bloomberg
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Securities and Exchange Commission Chair Gary Gensler doubled down on his calls for more oversight of cryptocurrency trading platforms on Wednesday, offering new insight into his priorities as he seeks to crack down on the digital coin industry.
Gensler reiterated the need for digital asset exchanges to register with the SEC -- a move that could bring more investor protections and compliance costs for the firms. He said that the agency is open to working with platforms around thorny issues like custody of tokens, but also said that the firms could face enforcement actions if they don’t comply with the watchdog’s rules.