The SEC Chief Believes Securities Law Will Help Regulate the Cryptosphere

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Gary Gensler, chairman of the Securities and Exchange Commission (SEC), has previously highlighted the need to regulate the crypto industry.

For example, in early August, he announced decentralized platforms deployed in the DeFi market could be controlled through mutual fund legislation.

In an interview with the Washington Post this week, Gensler again proposed treating digital assets as securities.

Accordingly, there is no need to develop a regulatory framework specifically for the cryptosphere; it is enough to use the law on securities for these purposes.

In the near future, the SEC will publish a report on stablecoins. The US Treasury will also participate in the development of this study.

According to Gensler, his department is currently working with other US regulators to develop a consolidated position on ensuring control over the industry.

The SEC hopes to receive additional powers from Congress to monitor the stablecoin market.