US Congress Calls SEC To Issue Crypto Regulation — Says “We Need A Formal Regulatory Process Now” – Regulation Bitcoin News

US Senators have called on the Securities and Exchange Commission (SEC) to issue crypto regulations now “through a regulatory process of transparent notice and comment.” “Some digital assets may be securities, others may be commodities, and others may be subject to completely different regulatory regimes,” he stressed.

US Senators Call for “Transparent Notice and Comment Regulatory Process” to Regulate Crypto Assets

US Senator John Hickenlooper (D-CO) has sent a letter to Gary Gensler, Chairman of the Securities and Exchange Commission (SEC) on Cryptocurrency Regulation.

In a letter dated October 13, the senator told Gensler: “Clear rules promote an environment in which investors are protected.”

I am writing to ask the SEC to issue regulations on digital asset securities through a transparent notice and comment regulatory process.

“Currently, digital asset markets do not have a coordinated regulatory framework. lose.”

Pointing out that existing laws and regulations are not designed for digital assets, he explained: Man. “The senator said:

Given the complexity of these issues, some digital assets may be securities, others may be commodities, and others may be subject to completely different regulatory regimes. Recognizing that, a formal regulatory process is now required.

“This will greatly improve policy development and help the SEC gather input and understand concerns,” he said.

Senators have called for clarifying what types of digital assets are securities, addressing how digital securities are issued and listed, establishing a registration system for digital asset securities trading platforms, and trading and custody of digital assets. how to do

Hickenlooper said:

We recognize that these questions are complex, but it’s time for the SEC to get involved.

What are your thoughts on Senator Hickenlooper’s letter to SEC Chairman Gary Gensler? Let us know in the comments section below.

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