SEC Chairman Gary Gensler said it was too soon for the U.S. Securities and Exchange Commission to draft more rules targeting cryptocurrencies after a U.S. federal judge ruled in a high-profile enforcement case last week.
The U.S. SEC has proposed rule changes applicable to digital assets during its tenure. There are rules in the books about what it means to be a stock exchange, a broker, and an investment advisor.
“We’ve also proposed and even passed rules on brokers, which in this space are called special purpose brokers, we’ve proposed rules on BTC -0.48%-is-a-safe-haven-for-transactions-and-asset-protection/">asset protection, so we’ve done some of that, but we’ll continue to think about it.”Gary Gensler
In addition, Gensler said that the crypto field is actually quite centralized, and decentralized projects sometimes have individuals with the title of CEO or CTO, while assets are usually held by fewer than 100 people, and finance tends to be somewhat centralized.
Gensler declined to comment directly on the Ripple case, citing “litigation is still ongoing.”