The US will tighten cryptocurrency regulation in the near future

Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), said that the Commission is looking to enter into agreements with US financial agencies to strengthen cryptocurrency regulation.

In an interview with the Financial Times, Gensler suggested that more efforts should be made to control the trade in digital assets and that the SEC and the CFTC (Commodity Futures Trading Commission) should join forces. «If a digital asset that represents a certain commodity is registered on a platform that is supervised by the SEC, we will send information about the commodity to the CFTC to work together,» Gensler explained.

Gensler summarized that a unified cryptocurrency regulatory structure will increase user confidence in the digital asset sector and help the government «keep the power in its hands.» Earlier, the SEC chairman spoke out against a bill that would have created a regulatory framework for cryptocurrencies. According to Gensler, such a law would weaken investor protection in the market and negatively affect the financial stability of the United States. Therefore, it is obvious that the new agreement between the SEC and the CFTC will be more beneficial for both the American authorities and crypto investors who want some kind of normal regulation.