Gary Gensler Requires Crypto Exchanges To Register

United States Securities and Exchange Commission (SEC) Chairman Gary Gensler continues his move regarding the cryptocurrency industry.

During this time, Chairman Gensler reiterated his stance and issued a notice requiring cryptocurrency trading platforms to register with the agency.

In a video posted last night, the SEC chairman said that cryptocurrency exchanges threaten consumers’ safety.

Gary Gensler asked committee officials to work with these platforms to regulate them like stock exchanges. He also noted that the SEC is in the process of reviewing some coins as securities.

“Look, there’s no reason to treat the crypto market differently just because a different technology is used,” he said.

Last month, after the US crypto bipartisan bill was finally announced, Gensler raised concerns about the pro-crypto nature of the regulatory framework and stated that it would be detrimental to the market as a whole current $100 trillion capital market.

The new bill reassigns supervision of the spot and futures cryptocurrency markets to the Commodity Futures Trading Commission (CFTC), which Gensler soon criticized.

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