The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has explained how securities laws apply to cryptocurrency tokens as he outlined the commission’s priorities in regulating the crypto space. “Our role at the SEC is to ensure that the public still gets basic protection,” he stressed.
SEC Chair Gary Gensler on Cryptocurrency Regulation
SEC Chair Gary Gensler discussed cryptocurrency regulation and the agency’s 2022 regulatory agenda on CNBC Monday.
The chairman explained that, in general, “If you are raising money from the public, and the public is in anticipation of profit based upon that promoter, sponsor, that group’s efforts — that’s within the securities laws, and it’s within the securities laws because Congress painted with a broad brush.” He elaborated: