Securities and Exchange Commission (SEC) Chairman Gary Gensler said his agency is considering how to split regulation of cryptocurrency exchanges between the SEC and the Commodity Futures Trading Commission (CFTC). This is because most platforms include tokens that fit the definition of securities and commodities.
Gensler noted that because of this, no agency can act as the sole monitor of such platforms.
“Cryptocurrencies can offer entrepreneurs new ways to raise capital and traders new ways to trade. But we still need investor and market protection. We already have robust ways to protect traders. There are also ways to protect investors from unscrupulous entrepreneurs in fundraising. We need to apply the same protections to the cryptocurrency markets,” he said.