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The SEC will offer a flexible format for registering cryptocurrencies

Legal

bctd.news 15 September 2022 13:02, UTC
  
Reading time: ~2 m

The SEC recommends a flexible approach to registering digital tokens as securities. A similar statement is contained in the transcript of the forthcoming speech of the head of department Gary Gensler before the US Senate.

"I instructed the team to devise a technique to permit the trading of commodities and securities side by side. I understand that it is reasonable to be flexible in the implementation of the current disclosure obligations given their nature.

In an upcoming speech, Gensler will reiterate the position that most crypto assets are securities and that industry participants must register with the agency “regardless of whether they call themselves decentralized.”

The SEC chairman described stablecoins as “money market shares or another type of securities” that are also subject to regulation and registration with the Commission.

Recall that in September, the head of the department said that he would support the granting by the US Congress of additional powers to regulate the CFTC cryptocurrency market.

Gensler has repeatedly argued in the past that most tokens fall under the definition of securities and SEC jurisdiction.


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