In a letter sent to SEC Chairman Gary Gensler on Thursday, Senator John Hickenlooper, a Colorado Democrat, called on the Securities and Exchange Commission to take more initiative in regulating cryptocurrencies. rice field.
“Whatever the risks and benefits of these new assets, existing laws and regulations are designed to deal with how digital assets are used in the marketplace,” Hickenlooper wrote to Gensler. was not,” he wrote. “Currently, digital asset markets do not have a coordinated regulatory framework. lose.”
Hickenlooper specifically called on the SEC to regulate digital asset securities “through a regulatory process of transparent notice and comment.”
Other members of the Capitol have introduced legislation to address crypto regulation, but the industry has yet to clarify the definition of digital goods and digital security. There is further confusion about when and when it should be regulated by the Commodity Futures Trading Commission.
In his letter, Hickenlooper asked the SEC to clarify what types of digital assets are securities. Address how digital securities are issued and listed. Determine the disclosures required for investors to obtain information. Establish a registration system for digital securities trading platforms. Create rules for how digital assets are traded and stored.
“Given the complexity of these issues, some digital assets may be securities, others may be commodities, and others may be subject to entirely different regulatory regimes,” Hickenlooper said. A formal regulatory process is now needed, recognizing the potential for