Gary Gensler Speaks on Crypto Regulation by SEC

Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), spoke about crypto regulation during an interview with Yahoo Finance Live on Thursday, stating that SEC is working in several fields, including (1) exchanges, (2) lending, and (3) the broker-dealers. Gensler said that the SEC, which has the authority from Congress to modify some rules to better protect investors, is in talks with industry participants about how to come into compliance or modify some of that compliance.

Gensler said SEC is also looking at the tokens, the stablecoins, and the non-stablecoins, having separate discussions with the bank regulators and Commodity Futures Trading Commission (CFTC). He also added that with non-security tokens, the SEC will send information to CFTC, once again reiterating his view that “Bitcoin is a non-security token”.