{"id":1920279,"date":"2023-04-27T16:27:57","date_gmt":"2023-04-27T20:27:57","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sec-chairman-says-crypto-exchanges-must-comply-with-regulators\/"},"modified":"2023-04-27T16:31:27","modified_gmt":"2023-04-27T20:31:27","slug":"sec-chairman-says-crypto-exchanges-must-comply-with-regulators","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sec-chairman-says-crypto-exchanges-must-comply-with-regulators\/","title":{"rendered":"SEC Chairman Says Crypto Exchanges Must Comply With Regulators"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsec-chairman-says-crypto-exchanges-must-comply-with-regulators%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1920279&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>SEC Chairman Tells Crypto Exchanges to Comply with Regulations<\/h2>\n<div class=\"group\">\n<ul>\n<li>SEC Chairman Gary Gensler said in a video on Thursday that crypto exchanges \u201cmust come into compliance, register with us, and deal with conflicts of interest.\u201d<\/li>\n<li>Gensler\u2019s comments follow a lawsuit from Coinbase, in which the company asked for \u201cregulatory guidance.\u201d<\/li>\n<li>The SEC is trying to make clear that there\u2019s no ambiguity in the rules. <\/li>\n<\/ul>\n<\/div>\n<div class=\"group\">\n<p>SEC Chairman Gary Gensler has a message for Coinbase and other crypto exchanges: The rules are clear, and they must be obeyed.<\/p>\n<p>In a video posted on Twitter on Thursday, Gensler said that crypto exchanges must treat cryptocurrencies like securities and stop acting as if the regulations are ambiguous.<\/p>\n<p>\u201cThe law is clear,\u201d Gensler said. \u201cIf you\u2019re a securities exchange, clearinghouse, broker, or dealer, you must come into compliance, register with us, and deal with conflicts of interest and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jen-psaki-lied-to-dc-reporters-about-covid-spending-and-only-one-of-them-called-her-on-it\/\" title=\"Jen Psaki Lied To DC Reporters About Covid Spending And Only One Of Them Called Her On It\">disclose important information<\/a>. For 90 years, these laws have <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/in-a-faceoff-with-elon-musk-the-sec-blinked\/\" title=\"In a Faceoff with Elon Musk, the SEC Blinked\">helped protect investors<\/a> like you.\u201d<\/p>\n<p>The regulator\u2019s comments come days after crypto exchange Coinbase sued the SEC, asking that the agency be forced to publicly share its answer to a months-old petition on whether it would allow the crypto industry to be regulated using existing SEC frameworks.<\/p>\n<p>Coinbase has been arguing that the SEC has been inconsistent in how it treats cryptocurrencies and that the industry needs regulatory clarity.<\/p>\n<p>Gensler titled his video on Thursday, \u201cOffice Hours,\u201d and tried to make the point that what crypto exchanges are doing is very obviously marketing and selling securities, even if the debate on the topic has been obscured.<\/p>\n<p>\u201cAn investment contract exists when you invest money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others,\u201d Gensler said. \u201cIntermediaries for investment contracts, whether they\u2019re exchanges, brokers, dealers, clearinghouses, they need to comply with the securities laws and register with the Securities and Exchange Commission.\u201d<\/p>\n<p>Gensler said that by not complying with SEC regulations, the platforms \u201cdon\u2019t have <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sec-chairman-says-crypto-exchanges-must-comply-with-regulators\/\" title=\"SEC Chairman Says Crypto Exchanges Must Comply With Regulators\">basic investor protections<\/a>,\u201d which is leading to clients being unable to access their funds when there are problems, including bankruptcies.<\/p>\n<h3>Recent SEC Actions Against Crypto Exchanges and Individuals<\/h3>\n<ul>\n<li>Bittrex<\/li>\n<li>Gemini<\/li>\n<li>Genesis<\/li>\n<\/ul>\n<p>The SEC has also taken action against individual actors accused of manipulating crypto assets, including crypto entrepreneur Justin Sun and disgraced Terraform Labs founder Do Kwon.<\/p>\n<p><strong>WATCH:<\/strong> Sell-off hits bitcoin<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>SEC Chairman Gary Gensler said in a video on Thursday that crypto exchanges \u201cmust come into compliance, register with us, and deal with conflicts of interest.\u201dGensler\u2019s comments follow a lawsuit from Coinbase, in which the company asked for \u201cregulatory guidance.\u201dThe SEC is trying to make clear that there\u2019s no ambiguity in the rules. SEC Chairman<\/p>\n","protected":false},"author":1,"featured_media":1920280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[3879,12322,6987,12326,9830],"class_list":["post-1920279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-chairman","tag-comply","tag-crypto","tag-exchanges","tag-regulators"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1920279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1920279"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1920279\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1920280"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1920279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1920279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1920279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}