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SEC Needs Clear Authority Over Crypto Platforms, Gensler Says
The SEC chair spoke of the agency's desire to "stitch together" consumer protection for tokens sold as securities and tokens sold as commodities.
Updated Sep 14, 2021, 1:35 p.m. Published Aug 4, 2021, 1:34 p.m.
The U.S. Securities and Exchange Commission (SEC) needs clear authority over platforms that trade or lend crypto, Chair Gary Gensler said.
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- Talking to CNBC's Squawk Box Wednesday, the SEC chief spoke of the agency's desire to "stitch together" consumer protection on platforms that offer lending or trading of both tokens sold as securities, and tokens sold as commodities.
- Gensler said many crypto trading and lending platforms are "standing astride regulation," given this nuance.
- "If they're trading securities, I'm encouraging them to come in and have a frank discussion," Gensler said, suggesting that many platforms are reticent to do so.
- Asked about how the desire for robust regulation would naturally clash with bitcoin's original ethos of outsider money, Gensler praised the "off the grid, libertarian" values of crypto, but stressed the importance of preventing fraud, terrorism and other crime, citing the recent attack on Colonial Pipeline as an example.
Read more: SEC Chairman Gensler Agrees With Predecessor: ‘Every ICO Is a Security’
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- 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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