Appearing before the House Financial Services Committee on Thursday, newly anointed SEC Chairman Gary Gensler suggested that Congress should consider regulating cryptocurrency exchanges.
“It’d be good to consider whether to bring investor protection to the crypto exchanges,” Gensler told Rep. Patrick McHenry. “And I think if that were the case—because right now the exchanges trading in these crypto assets do not have a regulatory framework, either at the SEC or our sister agency, the Commodity Futures Trading Commission—that could instill greater confidence,” he said.
“Right now, there’s not a market regulator around these crypto exchanges and thus there’s really no protection around fraud or manipulation.”
Gary Genslers response pic.twitter.com/LlEr0dsqoI
— Jeff (@ISO_XRP) May 6, 2021
Today’s hearing was mostly about the fallout from January’s GameStop short squeeze, but Rep. McHenry had asked about how Gensler’s SEC might bring more regulatory clarity to the world of d