According to the Chair of the US Securities and Exchange Commission, Gary Gensler, the agency is prepared to assist crypto intermediaries in achieving compliance. Gensler made this statement during his speech at the Atlanta Fed's 2023 Financial Markets Conference, which followed the increased tension between the regulator and exchanges regarding the process of registering with the agency.
Gensler emphasized that the business models of crypto intermediaries often rely on non-compliance. He added that these models frequently involve commingling customer funds and are plagued by conflicts of interest.
Gensler urged crypto platforms to register with the SEC, categorizing the majority of cryptocurrencies as securities. However, crypto exchanges such as Coinbase resisted this call, asserting that they do not list securities. In March,
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First found on: SEC Chair Gary Gensler Offers Assistance for Crypto Intermediaries to Achieve Compliance
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