The Chairman of the US Securities and Exchange Commission (SEC) – Gary Gensler – reiterated the agency’s plans to exercise greater regulatory oversight on the cryptocurrency market to protect investors from fraud.
Additionally, he revealed that the SEC and the Commodity Futures Trading Commission (CFTC) will work together to supervise the operations of digital asset trading venues.
The SEC and the CFTC Combining Efforts Because of Crypto
The two entities are America’s top financial watchdogs. However, there are significant differences between their responsibilities as the SEC regulates the securities market while the CFTC regulates commodities and derivatives. According to Gary Gensler, though, the agencies will join forces in the near future to implement enhanced supervision of the crypto industry, especially digital asset platforms.
The government official said the SEC intends to register and regulate cryptocurrency exchanges and to work to separate the custody of assets to m
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