SEC Chair Gary Gensler Seeks to Regulate Crypto Platforms ‘Like Exchanges’

The Securities and Exchange Commission (SEC) is looking into crypto trading platforms being “registered and regulated much like exchanges,” Chair Gary Gensler said April 4.

“In crypto, there is lots of innovation, but plenty of hype. As in other start-up fields, many projects likely could fail. That’s simply part of the entrepreneurial spirit in the U.S.,” Gensler said, speaking at the Penn Law Capital Markets Association Annual Conference, per a transcript of his remarks. “There’s no reason to treat the crypto market differently just because different technology is used. We should be technology-neutral.”

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Alex Zerden, founder of Capitol Peak Strategies, adjunct senior fellow at Center for a New American Security (CNAS) and a former Treasury Department official, told GOBankingRates that “the future of the legal and regulatory frameworks for digital assets remain a live question, as demonstrated by SEC Chair Gensler’s speech, industry’s responses, President Biden’s March 9, 2022 executive order on digital assets, and various legislative proposals.”

“We are in a dynamic period of accelerated public policy engagement in this new technological and financial space. However, the public discourse is the tip of the iceberg on much more sustained engagement about the future of this industry,” Zerden said.

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