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SEC's Gensler Wants Greater Scrutiny for Crypto Exchanges: Report
"I've asked staff to look at every way to get these platforms inside the investor protection remit," he said.
Updated May 11, 2023, 4:30 p.m. Published Jan 20, 2022, 12:52 p.m.
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Chairman of the U.S. Securities and Exchange Commission (SEC) Gary Gensler wants to apply greater pressure on crypto exchanges to bring them inside the market regulator's purview.
- Gensler aired his concerns about the dangers to consumers if crypto exchanges are not properly regulated in a virtual press conference on Wednesday, according to a report by Bloomberg.
- "I've asked staff to look at every way to get these platforms inside the investor protection remit," he said.
- "If the trading platforms don't come into regulated space, it'd be another year of the public being vulnerable," he added.
- Gensler had previously expressed his desire to see crypto exchanges registered with the SEC for the purposes of investor protection.
- In December, he said in an interview that exchanges are "doing a lot more than just trading," given how they also hold crypto tokens and sometimes trade against their customer base.
- Gensler, during his nine-month reign as chairman of the SEC, has maintained his stance that most crypto tokens are akin to securities and are therefore within the remit of the regulator.
Read more: SEC Commissioner Hester Peirce Says Washington Doesn’t Need a New Crypto Regulator
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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U.S. FDIC proposes first U.S. stablecoin rule to emerge from GENIUS Act
The banking regulator began its formal rulemaking process to set up the procedures by which depository institutions can start stablecoin subsidiaries.
What to know:
- The Federal Deposit Insurance Corp., which regulates thousands of banks in the U.S., has issued its first proposal of a rule governing the application process for issuing stablecoins.
- The propsoal would effect depository institutions that want to set up subsidiaries for issuing the dollar-backed tokens.
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