Gary Gensler: Current securities laws apply to the crypto space, and a large number of industry entities do not comply with regulations

Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), talked about the intersection of cryptocurrency and securities law, the political impact of cryptocurrency regulation, and his priorities at the SEC during an interview at the Bloomberg Investment Summit. Gensler emphasized that there is no inconsistency between cryptocurrency securities and existing securities laws. He pointed out that the rules governing securities are clear and can protect investors, ensuring fair, orderly, and efficient markets. Nevertheless, he believes that many entities in the cryptocurrency field are not complying with these laws. This non-compliance is a key issue that the SEC aims to address through its regulatory oversight.

Regarding the growing political significance of the cryptocurrency industry, Gensler stated that his main responsibility is to protect investors and oversee issuers, ensuring entry into fair, orderly, and efficient markets. He added that others can also participate in political discussions, but his duty is to maintain the integrity of the capital markets.