CEO Of ICE: Crypto Assets Are Going To Be Regulated And Dealt Like Securities
Jeffrey Sprecher, CEO of Intercontinental Exchange Inc (ICE), predicts that the majority of cryptocurrencies will be treated as securities in the US, according to a Reuters report.
Sprecher, whose ICE runs the New York Stock Exchange, asserted confidently on December 6 at the financial services conference by Goldman Sachs Group Inc. that crypto assets are going to be regulated and transacted like securities.
“What does that mean? It means more transparency, it means segregated client funds, the role of the broker as a broker-dealer will be overseeing and the exchanges will be separated from the brokers. The settlement and clearing will be separated from the exchanges.”
In light of FTX‘s recent collapse, which wiped out uncountable billions from the market, left customer funds in limbo, and damaged crypto’s reputation among regulators and officials, there is a renewed focus on regulating cryptocurrencies as securities.
Sprecher asserted that the legal frameworks for securities already exist and will just be implemented more strongly, so new regulation is not necessarily necessary for cryptocurrencies.
As Coincu reported, Senator Elizabeth Warren, a vocal opponent of cryptocurrencies, is also working on a bill that would give the Securities and Exchange Commission (SEC), headed by Gary Gensler, the majority of the regulatory power over the industry.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
Author
News
CEO Of ICE: Crypto Assets Are Going To Be Regulated And Dealt Like Securities
Jeffrey Sprecher, CEO of Intercontinental Exchange Inc (ICE), predicts that the majority of cryptocurrencies will be treated as securities in the US, according to a Reuters report.
Sprecher, whose ICE runs the New York Stock Exchange, asserted confidently on December 6 at the financial services conference by Goldman Sachs Group Inc. that crypto assets are going to be regulated and transacted like securities.
“What does that mean? It means more transparency, it means segregated client funds, the role of the broker as a broker-dealer will be overseeing and the exchanges will be separated from the brokers. The settlement and clearing will be separated from the exchanges.”
In light of FTX‘s recent collapse, which wiped out uncountable billions from the market, left customer funds in limbo, and damaged crypto’s reputation among regulators and officials, there is a renewed focus on regulating cryptocurrencies as securities.
Sprecher asserted that the legal frameworks for securities already exist and will just be implemented more strongly, so new regulation is not necessarily necessary for cryptocurrencies.
As Coincu reported, Senator Elizabeth Warren, a vocal opponent of cryptocurrencies, is also working on a bill that would give the Securities and Exchange Commission (SEC), headed by Gary Gensler, the majority of the regulatory power over the industry.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
Other Posts
Related Posts
Latest
Solana DEX Trading Volume Hits $5B Daily for Three Straight Days
Phantom iOS Users Lost Recovery Phrase After Updating to New Version
Press Release
Get Ready for a New Level of Excitement If You Missed Ethereum ICO: Qubetics Could Redefine Success
Shiba Inu Price Clears Path To New ATH Of $2 As WallitIQ (WLTQ) Takes The Lead With A 23,000% Surge
