Crypto Legislation Could Undermine Market Regulations, Gensler Says – WSJ

Asked about a bill introduced last week by Sens. Cynthia Lummis (R., Wyo.) and Kirsten Gillibrand (D., N.Y.), Mr. Gensler initially demurred, saying he would prefer to discuss the proposed legislation with the senators. But he then suggested that legislative changes targeting cryptocurrencies could have implications for stock exchanges or mutual funds.

“We don’t want to undermine the protections we have in a $100 trillion capital market,” Mr. Gensler said at The Wall Street Journal’s CFO Network Summit. “Like behaviors should have like treatment.”

Asked if the recent rout in cryptocurrency prices added new urgency to the SEC’s concerns about the market, Mr. Gensler said, “the urgency is highlighted, but the urgency has been there.”

Source: Crypto Legislation Could Undermine Market Regulations, Gensler Says – WSJ