SEC Chair Gensler Proposes 'One Rule Book' Crypto Regulation

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has reportedly proposed “one rule book” for the regulation of crypto assets. “If this industry is going to take any path forward, it will build some better trust in these markets,” said Gensler.

SEC Chairman Calls for One Rule Book for Crypto

SEC Chairman Gary Gensler has proposed “one rule book” for the regulation of crypto, the Financial Times reported Friday. He is looking to strike agreements with other financial regulators, including the Commodity Futures Trading Commission (CFTC), to avoid gaps in the oversight of the crypto sector. He told the publication:

I’m talking about one rule book on the exchange.

The SEC chief elaborated that the rule should protect investors against fraud, front-running, and manipulation, in addition to providing transparency over order books.

The rule book will apply to “all trading regardless of the pair — [be it] a security token versus security token, security token versus commodity token, commodity token versus commodity token,” Gensler described.

The SEC boss revealed that he is working on a “memorandum of understanding” with his counterparts at the CFTC, which would be a formal deal to ensure that trading in digital assets has adequate safeguards and transparency. He explained that if a commodity token is listed on a platform overseen by the securities regulator, the SEC would “send that information over to the CFTC.”

גענסלער האט געשריבן:

דורך באַקומען דעם מאַרק אָרנטלעכקייַט קאָנווערט, איין הערשן בוך אויף אַ וועקסל וועט טאַקע העלפֿן דעם ציבור. אויב די אינדוסטריע וועט נעמען קיין וועג פאָרויס, עס וועט בויען אַ בעסער צוטרוי אין די מארקפלעצער.

U.S. Senators Kirsten Gillibrand and Cynthia Lummis recently proposed a framework that would extend the CFTC’s oversight of the crypto sector.

לעצטע וואָך, גענסער געווארנט of “too good to be true” crypto products. He also recently warned that crypto exchanges often trade against their customers. Following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST), the SEC chairman cautioned investors that a lot of tokens will fail.

Gensler has been criticized for taking an ענפאָרסמאַנט-סענטריק צוגאַנג to regulating crypto assets. SEC Commissioner Hester Peirce said in May that the securities watchdog has אראפגעפאלן די באל on crypto regulation and there are long-term consequences.

וואָס טאָן איר טראַכטן וועגן די באַמערקונגען פון SEC טשערמאַן Gary Gensler? לאָזן אונדז וויסן אין די באַמערקונגען אָפּטיילונג אונטער.

קעווין העלמס

א סטודענט פון אַוסטריאַן עקאנאמיק, Kevin געפֿונען ביטקאָין אין 2011 און איז אַן עוואַנגעליסט זינט. זיין אינטערעסן ליגן אין ביטקאָין זיכערהייַט, אָפֿן-מקור סיסטעמען, נעץ יפעקץ און די ינטערסעקשאַן צווישן עקאָנאָמיק און קריפּטאָגראַפי.