{"id":491338,"date":"2022-09-08T20:15:00","date_gmt":"2022-09-08T17:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sec-chair-suggests-openness-to-crypto-bills-that-dont-inadvertently-undermine-securities-laws\/"},"modified":"2022-09-08T20:15:00","modified_gmt":"2022-09-08T17:15:00","slug":"sec-chair-suggests-openness-to-crypto-bills-that-dont-inadvertently-undermine-securities-laws","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sec-chair-suggests-openness-to-crypto-bills-that-dont-inadvertently-undermine-securities-laws\/","title":{"rendered":"# SEC chair suggests openness to crypto bills that don&#8217;t &#8216;inadvertently undermine securities laws&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41a325d0e35\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41a325d0e35\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/sec-chair-suggests-openness-to-crypto-bills-that-dont-inadvertently-undermine-securities-laws\/#%E2%80%9D_SEC_chair_suggests_openness_to_crypto_bills_that_dont_%E2%80%98inadvertently_undermine_securities_laws_%E2%80%9C\" >&#8221; SEC chair suggests openness to crypto bills that don&#8217;t &#8216;inadvertently undermine securities laws&#8217; &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_SEC_chair_suggests_openness_to_crypto_bills_that_dont_%E2%80%98inadvertently_undermine_securities_laws_%E2%80%9C\"><\/span>&#8221; SEC chair suggests openness to crypto bills that don&#8217;t &#8216;inadvertently undermine securities laws&#8217; &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvM2I2MTI1NTgtNDJmZC00OTljLThiMTQtOWNjMzgyY2IzOTJjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-71846793>United States Securities and Exchange Commission chair Gary Gensler supports legislation that gives the Commodity Futures Trading Commission greater authority over crypto \u2014 seemingly if it doesn&#8217;t step on the SEC\u2019s toes.<\/p>\n<p>In written remarks for a Thursday program hosted by the Practising Law Institute, Gensler <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/news\/speech\/gensler-sec-speaks-090822\">encouraged<\/a> inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>ries in the crypto space as well as crypto security token projects and potentially stablecoins to register with the SEC, reiterating his \u201ccome in and talk to us\u201d <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach. According to the SEC chair, the \u201cvast majority\u201d of the roughly 10,000 tokens on the cryptocurrency market were securities subject to the agency\u2019s regulatory purview and likely needed legislation to ensure investor protection.<\/p>\n<p>\u201cI look forward to working with crypto projects and intermediaries looking to come into compliance with the laws,\u201d said Gensler. \u201cI also look forward to working with Congress on various legislative initiatives while maintaining the robust authorities we currently have. Let\u2019s ensure that we don\u2019t inadvertently undermine securities laws underlying $100 trillion capital markets.\u201d<\/p>\n<p>Gensler suggested that crypto intermediaries may need to register each of their functions with both the SEC and CFTC, depending on whether services were offered as an exchange, broker-dealer or a custodian: <\/p>\n<blockquote><p>\u201cThe commingling of the various functions within crypto intermediaries creates inherent conflicts of interest and risks for investors [&#8230;] Disaggregating their functions into separate legal entities [could] mitigate conflicts of interest and enhance investor protection.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Gensler appeals for \u2018one rule book\u2019 in negotiations with CFTC over crypto regulation<\/em><\/strong><\/p>\n<p>Members of Congress are currently pursuing different legislative paths aimed at regulating the crypto industry. In August, leading members of the Senate Agriculture Committee introduced the Digital Commodities Consumer Protection Act, which if passed would likely expand the CFTC\u2019s authority to regulate Bitcoin (BTC) and Ether (ETH). Senators Cynthia Lummis and Kirsten Gillibrand also in June proposed a bill aimed at clarifying the role both the SEC and CFTC have with crypto projects.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/sec-chair-suggests-openness-to-crypto-bills-that-don-t-inadvertently-undermine-securities-laws\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; SEC chair suggests openness to crypto bills that don&#8217;t &#8216;inadvertently undermine securities laws&#8217; &#8220; United States Securities and Exchange Commission chair Gary Gensler supports legislation that gives the Commodity Futures Trading Commission greater authority over crypto \u2014 seemingly if it doesn&#8217;t step on the SEC\u2019s toes. In written remarks for a Thursday program hosted&#8230;<\/p>\n","protected":false},"author":1,"featured_media":491339,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvM2I2MTI1NTgtNDJmZC00OTljLThiMTQtOWNjMzgyY2IzOTJjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74898,71511,55229,70934,67874],"class_list":["post-491338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-sec","tag-government","tag-law","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/491338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=491338"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/491338\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/491339"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=491338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=491338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=491338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}