Head of SEC believes securities law will help crypto regulation

by in Cryptocurrency News

Gary Gensler

Gary Gensler, who serves as chairman of the Securities and Exchange Commission (SEC), has repeatedly pointed out the need to regulate the cryptocurrency industry.

For example, in early August, he announced that decentralized platforms deployed in the DeFi market could be controlled through mutual fund legislation.

In an interview with the Washington Post this week, Gensler again proposed treating digital assets as securities.

Accordingly, there is no need to develop a regulatory framework specifically for the cryptosphere. It is enough to use the law on securities for these purposes.

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Soon, the SEC will publish a report on stablecoins. The US Treasury will also participate in writing this study.

According to Gensler, his department is currently working with other US regulators to develop a consolidated position on ensuring control over the industry.

The SEC hopes to gain additional authority from Congress to monitor the stablecoin market.