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
Fluence is a decentralized cloud computing platform and marketplace supported by blockchain. It offers a…
FTX creditors may receive up to 142% of their claims, while most customers could get…
Despite comprising a small portion of its assets, the Susquehanna Bitcoin ETF investment underscores its…
Amidst recent market adjustments erasing considerable gains, Fetch.ai (FET) finds itself in a phase of…
New York, New York, May 7th, 2024, ChainwireSpectral is excited to announce its participation in…
CBOE proposes rule changes affecting Franklin Bitcoin ETF trading, potentially altering purchase timing for traders.
This website uses cookies.