SEC Chairman Urges Crypto Exchanges to Comply with US Law

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Gary Gensler, chairman of the Securities and Exchange Commission (SEC), has called on all cryptocurrency exchanges to register in the regulator’s register, Bloomberg has reported.

According to the publication, the US authorities promise to apply sanctions against those trading platforms that operate in the country but do not comply with its laws.

First of all, Gensler is concerned about compliance with anti-money laundering legislation. In addition, he has accused exchanges of manipulating the market and threatened them that if they provoke volatility with losses for traders, then their activities in the US will be suspended.

Most digital assets can be viewed as instruments that the SEC should control. Thus, each cryptocurrency platform must obtain permission from the SEC to operate in the US.

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