The leadership of the SEC wants to receive additional powers to control the situation in the cryptocurrency market.
Related: SEC and CFTC are arguing over getting right to regulate cryptosphere
The position of the regulator was expressed by its head, Gary Gensler. He sent a letter to Senator Elizabeth Warren, who is known as a supporter of the early implementation of legislation for the cryptosphere. In it, Gensler outlined the position of the SEC and stressed that the current powers of the commission are not enough.
The letter was sent to the senator last week, but Warren only published it today. She took such a step ahead of the consideration of the infrastructure bill in the House of Representatives.
Gensler once again pointed to the need to protect investors who invest in digital assets. The vast majority of tokens on the market should be considered as securities. The head of the SEC expressed the same position earlier.
He also called for special attention to be paid to monitoring the stablecoin market, the capitalization of which has already exceeded $ 110 billion. Such instruments can be used in money laundering and other fraudulent schemes.
Note that another American body, the Commodity Futures Trading Commission (CFTC), also wants to get the right to control the cryptosphere. A conflict is brewing between the two regulators, observers say.