Regulation of digital assets needs to be strengthened to protect investors, but the U.S. Securities and Exchange Commission (SEC) should not be the sole market surveillance. This was stated by Gary Gensler, head of the Yahoo Finance agency.

According to the official, the public will benefit from increased control in the field of digital assets, especially when it comes to monitoring service providers such as lending platforms, exchanges and brokerage firms.

There are many cryptocurrency platforms that determine the rate of return. [по депозитам] It varies between 4% and 20%. If you’re an investor, you must think this sounds too good to be true. “You have to think about how this is possible and what risks are involved in these proposals.”

Gensler recalled the basic rule – if the token is publicly sold and the profits of the investors are directly tied to the actions of the issuer, it will be considered a security. However, he noted that such digital assets do not need to be regulated like stocks, but should be afforded “basic protection” to consumers.

“You can take risks, but the person who makes money and sells it to you [актив]It should provide all the information necessary to make a decision,” he added.

The head of the SEC stressed that the agency has the opportunity to create an optimal regulatory framework to protect investors, but the main risks come from unregulated platforms.

Gensler confirmed that the Commission plans to regulate the cryptocurrency market together with the US. CFTC. According to him, the agency closely monitors service providers and tokens of various classes, but they must be reserved for quality inspection.

“We are communicating with industry representatives about compliance, changing some rules. We’re also looking at tokens, including stablecoins. Separately, we are discussing various aspects with our colleagues from banking regulators and the CFTC, as some assets such as bitcoin are not securities.”

Recall that in June 2022, Gensler’s department announced that it views bitcoin as a commodity asset.

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