U.S. SEC Chairman: “Cryptocurrency Sector Is Really Fairly Concentrated”

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SEC Chairman Gary Gensler mentioned it was too early for the U.S. Securities and Trade Fee to draft extra guidelines for cryptocurrencies after a U.S. federal choose dominated in a high-profile enforcement case final week. mentioned.

The US SEC has proposed rule adjustments that apply to digital property throughout its time period. The e book defines what it means to be a inventory alternate, dealer, and funding advisor.

“We’ve additionally proposed and even handed rules on brokers, identified on this space as particular function brokers. We’ve additionally proposed and applied some rules on asset safety, which we’ll proceed to contemplate.” ”

Gary Gensler

Moreover, Gensler mentioned the crypto area is definitely fairly centralized, and whereas decentralized initiatives could have people with CEO or CTO titles, property are often held by lower than 100 individuals. and finance tends to be considerably centralized.

Gensler declined to remark straight on the Ripple case, saying “the lawsuit remains to be ongoing.”

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