(FT) The US Securities Exchange Commission chair, Gary Gensler, is calling for establishing a single crypto regulation rule book.
Gensler insists that with the different regulatory agencies, crypto operators can take advantage of the fragmented systems.
The SEC chair said he is already working with the Commodity Futures Trading Commission to come up with a memorandum of understanding for a formal regulatory deal. He says the MOU will guarantee market openness while enhancing the safety of the participants.
Gensler’s comments came when Wyoming Senator Cynthia Lummis introduced a bill that seeks to clarify the roles of SEC and CFTC in the crypto sector. The bill seeks to give CFTC more power in the crypto sector, with arguments that most digital assets resemble commodities.
It remains to be seen what the future outlook of crypto oversight will look like. Gensler’s calls have, however, been interpreted positively that the US has no intentions of outlawing digital assets.
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