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U.S. SEC chair previews path forward on crypto trading scrutiny, investor protection -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Bitcoin Buying and selling Machine is pictured in a bodega within the Manhattan borough of New York Metropolis, New York, U.S., February 9, 2021. REUTERS/Carlo Allegri/File Photograph

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By Katanga Johnson

WASHINGTON (Reuters) – Gary Gensler, the top of the U.S. securities regulator, mentioned on Monday the company is weighing the way it may lengthen investor protections afforded to customers of exchanges and different buying and selling platforms to crypto buying and selling platforms.

The expanded Securities and Alternate Fee (SEC) oversight would require the company to register and regulate platforms on which the buying and selling of securities and non-securities is “intertwined,” Gensler mentioned in a digital speech to an viewers on the College of Pennsylvania, his alma mater.

The company can even collaborate with the Commodity Futures Buying and selling Fee–its sister market regulator–to scrutinize platforms that commerce each crypto-based safety tokens and commodity tokens, mentioned Gensler, including {that a} potential “segregation” of token custody between buying and selling platform belongings and prospects’ belongings would even be thought of to assist stave off theft.

“Any token that may be a safety should play by the identical market integrity rulebook as different securities underneath our legal guidelines.”

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