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The chair of the US SEC, Gary Gensler said that platforms offering crypto trading services will be a primary focus of the agency.
Bloomberg informs that during a recent virtual conference, Gensler said that he had asked the staff to get crypto exchanges inside the investor protection area and look at every way to do so. The SEC chair finds if the platforms remain outside the regulated scope, the public will be vulnerable for another year.
He expressed hopes that exchanges will take action in the next months to be more directly regulated by Washington’s financial authorities. Like in the case of trading stocks or other assets investors get protections, it's essential for crypto investors to get additional security too, said Gensler.
Earlier, in December, Gensler announced expanding The SEC's executive staff and hiring Corey Frayer as a Senior Advisor to recommend the policymaking and regulations oversight related to crypto. Gensler said previously that a crypto ban in the USA isn’t expected.