For the US, cryptocurrencies do not require a special regulatory framework
For the US
Allison Lee, commissioner of the US SEC (Securities and Exchange Commission), the federal stock exchange regulator, said at a cryptocurrency regulation event that cryptocurrencies do not need a special set of rules. "Rather than pursuing approaches that target digital assets for special treatment under SEC regulations, treatments other asset classes do not receive, I believe we should continue to work together to bring these emerging markets and assets into compliance," he said. Lee.Lee's comments come as the Gary Gensler-led SEC continues to field demands from both cryptocurrency advocates and government policymakers to come up with clearly defined laws for the American cryptocurrency space . As previously reported by CryptoPotato, the Commission has appointed a new senior advisor to oversee cryptocurrencies as part of efforts to bring together the various demands regarding the US cryptocurrency landscape.
There are, however, indications that cryptocurrency regulations may not be at the top of the Commission's agenda, especially given its focus on issues like meme stocks and going against retail trading companies like Robinhood, which practice paying for order flow ( PFOF). Gensler has, however, stated that the SEC plans to oversee the crypto space, focusing on several market segments such as decentralized finance (DeFi), crypto lending, and token offerings, among others.
if (jQuery ("# crm_srl-th_altra_d_mh2_1"). is (": visible")) {console.log ("Edinet ADV adding zone: tag crm_srl-th_altra_d_mh2_1 slot id: th_altra_d_mh2"); } Indeed, crypto lending has come under significant scrutiny by state and federal regulatory agencies in the United States. In October 2021, the New York Attorney General's Office announced plans to shut down crypto loan providers offering services in the state. Such was the regulatory scrutiny directed at the industry that exchange giant Coinbase was forced to suspend the launch of its lending service in September 2021.
In early January, Gensler was asked whether Ethereum was considered a guarantee. The SEC chairman did not give a direct answer to the question, although he mentioned in 2018 that the second largest crypto asset would be seen as safe. Meanwhile, there is an ongoing legal battle between the SEC and blockchain company Ripple, with the regulator accusing the company of selling unregistered XRP tokens. Ripple, on the other hand, thwarted the SEC's request, stating that XRP is not classified as a stock. Furthermore, the SEC has yet to approve a spot bitcoin exchange-traded fund (ETF) application in the United States. However, TV host Ric Edelman is optimistic that the agency could give the green light to a bitcoin spot ETF within two years.
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