“With so many retail customers trading on crypto platforms, we should make sure that those platforms offer similar protections,” he noted, adding that SEC staff have been mandated to pursue registration of these crypto platforms.
Gensler also pointed out that with crypto exchanges also acting as market makers, potential conflict of interest could harm investors.
If the traditional exchanges don’t do this – market making – why should crypto platforms be any different?
Gensler’s comments come days after he reiterated the need to have crypto exchanges and lending platforms offer more disclosures as part of basic consumer protection.
Coinbase refutes these claims and alongside several industry players, say the agency is engaging in “regulation by enforcement.”The post Gensler maintains that crypto exchanges need to register with the SEC appeared first on CoinJournal.
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