{"id":623487,"date":"2023-03-30T04:35:00","date_gmt":"2023-03-30T09:35:00","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/30\/sec-chair-rules-out-crypto-specific-regulations\/"},"modified":"2023-03-30T04:35:00","modified_gmt":"2023-03-30T09:35:00","slug":"sec-chair-rules-out-crypto-specific-regulations","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/30\/sec-chair-rules-out-crypto-specific-regulations\/","title":{"rendered":"SEC Chair Rules Out Crypto-specific Regulations"},"content":{"rendered":"<div id=\"page\">\n<div id=\"content_box\">\n<header>\n<div>\n<p><img loading=\"lazy\" alt src=\"https:\/\/secure.gravatar.com\/avatar\/41169a86822e6585e2f87627f7d7ef3a?s=32&#038;d=mm&#038;r=g\"  height=\"32\" width=\"32\" decoding=\"async\"><\/p>\n<p><span><span>By <a href=\"https:\/\/fullycrypto.com\/author\/mahu_bs\" title=\"Posts by Mark Hunter\" rel=\"author\">Mark Hunter<\/a><\/span><\/span><\/p>\n<p><span><\/p>\n<p>14 seconds ago<span>Thu Mar 30 2023 09:35:39<\/span><\/p>\n<p><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/header>\n<p><img loading=\"lazy\" width=\"1300\" height=\"890\" src=\"https:\/\/fullycrypto.com\/wp-content\/uploads\/2023\/03\/SEC-Chair-Rules-Out-Crypto-specific-Regulations.png\" alt=\"SEC-Chair-Rules-Out-Crypto-specific-Regulations\" decoding=\"async\" title data-layzr=\"https:\/\/fullycrypto.com\/wp-content\/uploads\/2023\/03\/SEC-Chair-Rules-Out-Crypto-specific-Regulations.png\">\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<div>\n<p><span><span>Reading Time: <\/span> <span>2<\/span> <span>minutes<\/span><\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span>SEC Chair Gary Gensler has confirmed that the agency has no plans to change its approach to the crypto sector<\/span><\/li>\n<li aria-level=\"1\"><span>Gensler told a House committee that existing securities law is fit for purpose<\/span><\/li>\n<li aria-level=\"1\"><span>He also said that the crypto space was \u201crife with noncompliance\u201d<\/span><\/li>\n<\/ul>\n<p><span>Securities and Exchange Commission (SEC) chair Gary Gensler has ruled out crypto-specific regulations, telling a <\/span><a href=\"https:\/\/www.youtube.com\/watch?v=ZDDWLeeiHv4\" target=\"_blank\" rel=\"nofollow noopener\"><span>House hearing yesterday<\/span><\/a><span> that existing securities laws are more than up to the task of controlling the space. Gensler was speaking at the House Appropriations Subcommittee on Financial Services and General Government when the subject of crypto regulation naturally came up, with the agency\u2019s head saying that he is perfectly satisfied that the <\/span><a href=\"https:\/\/fullycrypto.com\/what-is-the-howey-test-for-securities\"><span>Howey test for securities<\/span><\/a><span>, which has been in place for nearly 90 years, is perfectly suited to the digital asset space.<\/span><\/p>\n<h2><span>SEC Has Been Criticized Over Confusing Message<\/span><\/h2>\n<p><span>The SEC has seen more crypto enforcement under Gensler\u2019s watch than any previous agency chief, with each week seemingly bringing a new case against a new organization or person. Several prominent crypto entities and supporters have called for more clarity regarding the SEC\u2019s approach to cryptocurrencies, but Gensler and his team have never suggested that crypto will be treated any differently than any other sector.<\/span><\/p>\n<p><span>Despite this supposed clarity, the likes of <\/span><a href=\"https:\/\/fullycrypto.com\/coinbase-lend-launch-would-result-in-legal-action-says-sec\"><span>Coinbase have criticized the SEC<\/span><\/a><span> for putting out a <\/span><a href=\"https:\/\/fullycrypto.com\/gensler-renews-call-for-crypto-firms-to-enter-dialogue-with-sec\"><span>\u2018come in and talk to us\u2019 message<\/span><\/a><span>, only to cease conversations and then enforce action afterward.<\/span><\/p>\n<h2><span>No Need to Change, Says Gensler<\/span><\/h2>\n<p><span>During the session, Congressman Sanford Bishop asked Gensler if the SEC has \u201cany plans to issue a rule to clarify how securities laws apply to digital assets\u201d, with Gensler\u2019s reply reinforcing the existing approach:<\/span><\/p>\n<blockquote>\n<p><span>The regulations actually already exist, sir. They\u2019re called the \u2018securities regulation\u2019, and so there are disclosure regulations for when somebody tries to raise money from the public.<\/span><\/p>\n<\/blockquote>\n<p><span>Gensler added that the \u201cWild West of the crypto markets\u201d is still \u201crife with noncompliance,\u201d adding that \u201cof the ten or twelve thousand tokens, there are very few that don\u2019t have a group of entrepreneurs in the middle that the public is counting on\u201d. These coins, he confirmed, are securities under current law.<\/span><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/fullycrypto.com\/sec-chair-rules-out-crypto-specific-regulations?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=sec-chair-rules-out-crypto-specific-regulations\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Mark Hunter<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Mark Hunter 14 seconds agoThu Mar 30 2023 09:35:39 Reading Time: 2 minutes SEC Chair Gary Gensler has confirmed that the agency has no plans to change its approach to the crypto sector Gensler told a House committee that existing securities law is fit for purpose He also said that the crypto space was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":623488,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31563,534,2849],"tags":[],"class_list":["post-623487","post","type-post","status-publish","format-standard","has-post-thumbnail","category-chair","category-financial","category-rules"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/623487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=623487"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/623487\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/623488"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=623487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=623487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=623487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}