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SEC Working With CFTC on Crypto Regulation, Says Chairman Gensler

•, by Kevin Helms

SEC Chair Gary Gensler on Crypto Regulation

SEC Chairman Gary Gensler talked about cryptocurrency regulation in an interview with Bloomberg this week. "We do have a broad agenda and crypto is part of that agenda," he began.

Commenting specifically on crypto regulation, the SEC boss affirmed that "The agency is really just looking out for investors," emphasizing that "many of these tokens have the attributes of securities." He further explained, "They are raising money from the public, and the public is anticipating profits based on the efforts of others."

Gensler described:

We brought a number of actions. We're trying to work with various crypto platforms, exchanges, lending platforms … to get investor protection for the public.

"If you are a platform and you have 75, or a hundred, or 5,000 tokens on the platform, the possibilities are that a number of them, and maybe many of them, are what's called a security," Gensler stressed.