SEC Chairman Gary Gensler has stressed the importance of regulating crypto issuers and intermediaries. cryptocurrency
Financial Stability Oversight Council’s Crypto Regulatory Recommendations
The Financial Stability Oversight Council also unanimously approved its 2022 annual report Friday. In his remarks, Gensler said he supported the FSOC report, including its recommendations. According to the announcement about the report by the U.S. Treasury Department: The Council emphasizes the importance of agencies continuing to enforce existing rules and regulations applicable to the crypto-asset ecosystem.
Noting that the Council has identified gaps in the regulation of crypto activities, the Treasury explained that in addressing these gaps, the Council has recommended “the enactment of legislation providing for rulemaking authority for federal financial regulators over the spot market for crypto-assets that are not securities.
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