September 27, 2022

SEC chief calls for increased oversight of bitcoin exchanges and stablecoin issuers

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The 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 department Gary Gensler.

According to Gensler, a similar logic applies to the platforms’ own trading operations, which can be conducted against its users.

The head of the SEC did not ignore the issuers of stablecoins.

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

In January 2022, the SEC promised increased oversight of bitcoin exchanges.

Recall that the US Treasury 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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