Gary Gensler, the chairman of the United States Securities and Exchange Commission (SEC), believes there have been significant changes in the financial market requiring upgraded definitions of exchanges and alternative trading platforms.
During the 10th Annual U.S. Treasury Market Conference on September 26, Gensler highlighted the shifts in the capital markets since the SEC first adopted regulations targeting alternative trading systems in 1998 and outlined some steps the agency has taken to bring the regulatory landscape up to par.
These regulations likely apply to crypto exchanges and trading platforms because Gensler has insisted over the years that they fall under the purview of the SEC.
Redefining Dealers and Exchanges
Gensler explained to the Treasury Market Conference attendees that a large part of the secondary markets are now facilitated by electronic trading platforms and algorithmic strategies. These platforms were exempted from alternative systems regulations introduced du
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