An SECgov advisory group agreed with Chair GaryGensler that most crypto tokens resemble securities but said the regulator could still provide formal guidance for how the industry can comply with federal laws. jesseahamilton nikhileshde report
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.U.S. Securities and Exchange Commission Chair Gary Gensler got further reinforcement for his quest to force crypto firms to conform with existing securities laws when his agency’s Investor Advisory Committee backed him up on almost every aspect of his campaign except one: The committee requested that the SEC actually provide formal industry guidance.
“The SEC should consider issuing a request for comment regarding areas where additional guidance is needed related to the application of the federal securities laws to crypto assets,” according to the letter. “The SEC can then use this input to craft additional guidance or propose rules to address issues identified.”
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