The US Securities and Exchange Commission (SEC) is reportedly weighing changes for the crypto market to make it more compliant, the watchdog’s head Gary Gensler said in an interview with Yahoo! Finance.
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Speaking about applying securities law to the crypto industry, Gensler noted that the SEC has “robust authorities from Congress to use our exemptive authorities that we can tailor.” He pointed out:
“We don’t have the same disclosures for an asset-backed security that we do for a stock offering. So it’s a thoughtful way to sort of tailor things.”
The SEC head has once again emphasized that many crypto companies do not comply with the US laws, but declined to name them. Yet, he hinted that there’s still a “potential path forward.”
Gensler’s comments come after many cryptocurrency lending giants and hedge funds went bankrupt amid the bearish market. As iHodl earlier reported, Celsius Network and some of its subsidiaries have filed for bankruptcy in a New York court under Chapter 11 of the US Bankruptcy Code.
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