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Gensler: SEC to scrutinize derivative products that can create “systemwide risks” during times of market stress
* U.S. SECURITIES AND EXCHANGE COMMISSION TO SCRUTINIZE DERIVATIVE PRODUCTS THAT CAN CREATE “SYSTEMWIDE RISKS” DURING TIMES OF MARKET STRESS - SEC CHAIR GENSLER@Reuters
— Nicholas Brown (@News_By_Nick) May 11, 2022
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SEC Chair Gensler doubles down on regulating crypto as securities
Securities and Exchange Commission Chairman Gary Gensler is doubling down on his claim that most cryptocurrencies constitute securities as the administration looks to regulate digital assets. The chairman continues to stake claim for the agency’s authority and oversight amidst a debate over which financial regulators should oversee crypto. “Most crypto tokens involve a group of entrepreneurs raising money from the public in anticipation of profits — the hallmark of an investment contract or a security under our jurisdiction,” Gensler said in speech Wednesday on reducing risk and increasing transparency of ... (full story)