SEC Chair Called For Increased Supervision Of Bitcoin Exchanges And Stablecoin Issuers

The US Securities and Exchange Commission (SEC) is considering increased regulation of stablecoin issuers and restrictions on cryptocurrency exchanges as custodians and market makers. This was stated by the head of authority Gary GENSLER.

Earlier, Gensler urged Congress to clarify the regulation of bitcoin exchanges. He later stated that bitcoin exchanges must comply with investor protection requirements similar to those applied to the equity and derivatives markets.

The US Department of the Treasury has released a report on the risks associated with stablecoins. The working group urged Congress to equate their issuers with depository institutions with mandatory deposit insurance, which would put them on a par with banks.

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