Cryptocurrency Exchanges Need Direct Regulation, SEC Chair Says | Barron’s

Gensler said the SEC is working on guidance for crypto custody, and then said that he thinks exchanges need more direct oversight.

He added that “only Congress that could really address it.”

“Right now the exchanges trading in these crypto assets do not have a regulatory framework, either at the SEC or our sister agency, the Commodity Futures Trading Commission,” he added. “That could instill greater confidence. Right now there’s not a market regulator around these crypto exchanges. And thus there’s really not protection against fraud or manipulation.”

Source: Cryptocurrency Exchanges Need Direct Regulation, SEC Chair Says | Barron’s