Gary Gensler: Current securities laws apply to the crypto space, but many industry entities do not comply with regulations

On June 25, U.S. SEC Chairman Gary Gensler spoke about the intersection of cryptocurrencies and securities laws, the political implications of crypto regulation, and his priorities at the SEC in an interview at the Bloomberg Investment Summit. Gensler stressed that there is no inconsistency between crypto securities and existing securities laws. He noted that the rules governing securities are clear and protect investors and ensure fair, orderly, and efficient markets. Nonetheless, he believes that a large number of entities within the cryptocurrency space do not comply with these laws. Such violations are a key issue that the SEC aims to address through its regulatory oversight. Regarding the growing political significance of the cryptocurrency industry, Gensler said that his primary responsibility is to protect investors and supervise issuers to ensure access to fair, orderly, and efficient markets. He added that others can also participate in political discussions, but his responsibility is to maintain the integrity of the capital markets. (Bloomberg)