The US Securities and Exchange Commission Chairman Gary Gensler is considering possible approaches to regulating crypto trading platforms, reports The Wall Street Journal.
The SEC will work with the Commodity Futures Trading Commission to regulate crypto trading platforms that allow their users to trade both commodities and securities.
SEC Chairman says crypto exchanges operate similarly to traditional exchanges and therefore should face the same level of scrutiny.
The SEC is focused on expanding its investor protection policy to crypto trading platforms.
SEC Chairman Gensler stated that crypto exchanges have also taken custody of their clients’ assets. For this reason, he proposes separating custody from trading in order to make the storage of digital assets on exchanges more secure.
Gensler has long requested Congress to assist the SEC with crypto regulation.
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