SEC chair calls for more power to regulate cryptocurrency

On Tuesday, chair of the US Securities and Exchange Commission Gary Gensler called on Congress to expand the agency’s authority in regulating cryptocurrency trading, lending, and platforms.

“Right now, we just don’t have enough investor protection in crypto. Frankly, at this time, it’s more like the Wild West,” Gensler said in a speech to the Aspen Security Forum Tuesday. “We have taken and will continue to take our authorities as far as they go.”

Over the last few years, cryptocurrency tokens and platforms have flourished as US financial regulators have struggled to develop and apply to the new technology. Last December, the Financial Crimes Enforcement Network proposed new regulations to make it easier...

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