Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

SEC is Eyeing Crypto Exchanges for Regulatory Oversight

Cryptocurrency Jan 21, 2022 07:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
SEC is Eyeing Crypto Exchanges for Regulatory Oversight

At least one U.S. regulatory agency doesn’t want to wait around for Congress to take up the issue of regulating cryptocurrencies. According to a Bloomberg report yesterday, the digital asset exchanges where crypto is bought and sold, are on the regulatory radar of the SEC this year.

Ever since the Presidential Working Group issued its findings last fall on a specific type of digital coins, officials at the SEC, Treasury, and Fed have been publicly pressuring elected members of Congress to take policy actions on programmable money. Since that report was issued, the House and Senate have held initial hearings to gather information and score political points – but that’s been about it.

It’s reported that Chair Gensler wants to see crypto trading platforms – such as Coinbase (NASDAQ:COIN), Gemini, Kraken…etc. – move under the investor protection auspices of his agency, much like the way the SEC oversees the NYSE and NASDAQ stock exchanges.

“I’ve asked staff to look at every way to get these platforms inside the investor protection remit,” said Gensler in the news article. “If the [crypto] trading platforms don’t come into the regulated space, it’d be another year of the public being vulnerable.” It’s not clear if the SEC’s regulatory reach for crypto exchanges is overreach or reasonable, but don’t expect Congress to help clarify those points this year.

That’s because cryptocurrencies are a dog at the polling booth, and I don’t mean Shiba Inu or Dogecoin. While 86% of voter-aged Americans have heard of cryptocurrencies, only 16% of adults have actually bought or traded any type of programmable money. Crypto is not a major issue for a plurality of the voting population, let alone a majority of voters. It’s improbable that crypto will be a winning policy issue for either party at the critical midterm elections this November, where majority control for both houses of Congress is up for grabs.


Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

SEC is Eyeing Crypto Exchanges for Regulatory Oversight

Related Articles

Cryptoverse: The bonfire of the NFTs
Cryptoverse: The bonfire of the NFTs By Reuters - Jul 05, 2022 1

By Elizabeth Howcroft (Reuters) - The NFT dream isn't dead, but it's taken a big non-fungible beating. The market shone gloriously last year as crypto-rich speculators spent...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email