The US will regulate crypto exchanges this year

On several occasions, US Securities and Exchange Commission (SEC) chairman Gary Gensler has stressed the need to strengthen regulatory oversight for digital currency trading platforms. For 2022, the regulator is planning to take more actions to bring crypto exchanges into the regulated space of the traditional market.

Speaking at a virtual press conference, Gensler said the agency wants to make the exchange of cryptocurrencies their main focus this year. The SEC wants to impose greater control on exchanges. President believes this additional regulatory oversight in space would ensure crypto investors get the same level of protection when trading stocks or other assets.



“I asked staff to look into every way to bring these platforms into the investor protection mandate, ”Gensler explained. "If trading platforms don't enter the regulated space, it would be another year where the public is vulnerable".

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Crypto experts like FTX founder Sam Bankman-Fried have said 2022 would be the year cryptocurrency gains more regulatory clarity in the US and around the world. Sam said he is optimistic about it because more institutions are likely to take part in the space in such a regulatory environment.