The US Securities and Exchange Commission (SEC) would Congress if it chooses to give the Commodity Futures Trading Commission (CFTC) more authority to regulate bitcoin (EXANTE: Bitcoin), the Wall Street Journal reports.
Speaking at an industry conference on Thursday, SEC Chair, Gary Gensler, said the commission was looking to give the CFTC more power to regulate "non-security tokens [...] and the related intermediaries." He added:
"Let's ensure that we don't inadvertently undermine securities laws. We've got a $100 trillion capital market. Crypto is less than $1 trillion worldwide. But we don't want that to somehow undermine what we do elsewhere."
It is unclear, when exactly Congress might grant the CFTC with such power, though. Gensler has been actively calling for more investors' protection on the crypto market for a long time, saying that many tokens might fall under its jurisdiction as they have similarities to securities.
