The chair of the US Securities and Exchange Commission is looking to strike agreements with other financial agencies to prevent cryptocurrency operators from slipping through the cracks of the US’s fragmented regulatory structure.
Gary Gensler told the Financial Times he was talking to his counterparts at the Commodity Futures Trading Commission about a formal deal to ensure that trading in digital tokens had adequate safeguards and transparency.
His proposal comes as US authorities’ efforts to oversee cryptocurrencies become enmeshed in Washington politics, potentially reducing the SEC’s influence over digital assets. Lawmakers on Capitol Hill are rushing to clarify what is legal and who is responsible for supervision.
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