Gary Gensler: The current securities laws apply to the cryptocurrency space, and many industry entities have not complied with the regulations

ChainCatcher news, according to Bloomberg, U.S. SEC Chairman Gary Gensler discussed the intersection of cryptocurrency and securities law, the political implications of crypto regulation, and his priorities at the SEC during an interview at the Bloomberg Investment Summit.

Gensler emphasized that there is no inconsistency between crypto securities and existing securities laws. He pointed out that the rules governing securities are clear, designed to protect investors, and ensure fair, orderly, and efficient markets. Nevertheless, he believes that a significant number of entities in the cryptocurrency space are not complying with these laws. This non-compliance is a key issue that the SEC aims to address through its regulatory oversight.

Regarding the growing political significance of the cryptocurrency industry, Gensler stated that his primary responsibility is to protect investors and oversee issuers, ensuring access to fair, orderly, and efficient markets. He added that others may engage in political discussions, but his duty is to uphold the integrity of the capital markets.