SEC Chair Gary Gensler Calls Ethereum Possible Entrance Of Securities Category

SEC chairman Gary Gensler. (Photo; Doc. Bitcoin.es)

JAKARTA The chairman of the US Securities and Exchange Commission (SEC) recently stated that he supports the congress concept regarding commodity regulations. The Commodity Futures Trading Commission (CFTC) has more direct jurisdictions of a number of crypto tokens.

Hal tersebut disampaikan Gensler dalam sebuah acara yang digelar di Universitas senangkat ini. CFTC dan ketua SEC Gary Gensler bersama-sama akan berjuang dalam mengendalikan pasar perdagangan spot uang kripto. Dengan begitu, aturan terkait cryptocurrency di AS akan semakin jelas.

I think CFTC could have greater authority. They currently do not have direct regulatory authority over the underlying non-security tokens," Gensler said at Washington University's Financial Market Quality Conference, as reported by Coinpeaker.

CFTC has advocated for direct power over digital assets classified as commodities in the United States. Currently Bitcoin (BTC) and Ethereum (ETH) are the two highest-value cryptocurrencies in terms of market capitalization, although Gensler stated last month that the latter may be a security because it switched to Proof-of-Stake (PoS) models.

In his remarks, the SEC chairman explained: "You can count with your finger one or two," projects that are not subject to SEC surveillance.

Gensler's support for expanding CFTC jurisdiction comes after a proposal approved by the Financial Stability Supervisory Board, a special US regulatory group. Gensler is a committee member.

Therefore, according to him, the US Congress should give more authority to the CFTC, especially those related to stablecoins, to reduce the risk of the financial system. On the other hand, the regulator also has anti-fraud and anti-manipulation rules but has no planning to apply these rules to crypto exchanges, according to Gensler.