The cryptocurrency exchange has filed a petition in court to try to force the federal agency to definitively say if crypto counts as a security or not.
Conversely, SEC chair Gary Gensler and other agency leads have repeatedly asserted that additional rules, clarity, and regulations aren’t needed for his agency to do its job nor for digital asset exchanges to understand the requirements.
earlier this month, Gensler reiterated, “we have a clear regulatory framework built up over 90 years.” Crypto exchanges already know where they stand with current laws, the SEC chair alleged—their failure is simply in not abiding by them. “We have a whole field in crypto that understands the law, and if they are providing exchange services, broker dealer services, clearing services of crypto security tokens, they should come into compliance.
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