{"id":18667,"date":"2023-05-16T03:05:13","date_gmt":"2023-05-16T03:05:13","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/sec-chair-gensler-claps-back-at-coinbase-says-crypto-rules-already-exist\/"},"modified":"2023-05-16T03:05:15","modified_gmt":"2023-05-16T03:05:15","slug":"sec-chair-gensler-claps-back-at-coinbase-says-crypto-rules-already-exist","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/sec-chair-gensler-claps-back-at-coinbase-says-crypto-rules-already-exist\/","title":{"rendered":"SEC chair Gensler claps back at Coinbase, says crypto rules already exist"},"content":{"rendered":"
The chair of the United States Securities and Exchange Commission (SEC) Gary Gensler has hit back at Coinbase\u2019s petition compelling the agency to provide a clear stance on crypto regulation, arguing that there are already adequate laws in place. <\/p>\n
In a May 15 keynote speech at the Financial Markets Conference, Gensler was asked about the dispute with Coinbase, the rules on crypto and why \u201cthe SEC doesn\u2019t publish rules for that market.\u201d<\/p>\n
In response, Gensler staunchly asserted that \u201cthe rules have already been published,\u201d adding that: <\/p>\n
\u201cTo make it quite direct: this is a field that has been operating largely non-compliant. […] There\u2019s nothing about a new technology that makes it non-consistent with the public policies that congress has laid out.\u201d<\/p><\/blockquote>\n
Gensler argued that the SEC has already put out the rules for what is required to custody assets, be an exchange, broker dealer or advisor and how to register securities offerings with the agency. <\/p>\n