Crypto fits into the “broad remit” of the U.S. Securities and Exchange Commission (SEC), Chairman Gary Gensler said in an interview with the Wall Street Journal on Sunday.
- In the interview Gensler restated his desire for more robust measures to protect crypto investors.
- “The public’s anticipating some profit based upon the efforts of some entrepreneur or computer-science group that’s raised money from the public. That fits in our broad remit at the SEC,” he said.
- Turning to crypto platforms, Gensler said that exchanges are “doing a lot more than just trading,” given that they also hold crypto tokens and sometimes trade against their customer base.
- ‘I’ve said publicly, Come in, work with the SEC, get registered. They are fundamentally exchanges, but they also have this other activity going on inside of it. It’s really important to get that investor protection.” he said.
- Gensler had previously said that while not all crypto tokens can be classed as a security, the fact that platforms offer the trading of so many tokens, it is likely that at least some will be.