SEC Chairman: Cryptocurrency exchanges will come under closer scrutiny

Cryptocurrency exchanges are expected to become important for the SEC to revamp its digital assets by 2022.

SEC Chairman Gensler said Wednesday he hopes the exchange will operate in the coming months to be administered directly by financial regulators. He noted that further scrutiny is important for crypto traders.

“We asked our staff to find ways to use this platform to protect our customers,” Gensler said.

Gensler argues that most tokens like security and SEC rules should be used. However, many cryptocurrency enthusiasts believe that these assets should not be subject to the same rules that have long been used for stocks and bonds.