SEC has ‘robust authority’ to regulate cryptocurrencies, but ‘there are gaps’ says SEC chair

SEC Chair Gary Gensler said working with Congress could help regulate “a world of stablecoins.”
“I think that we have robust authorities at the Securities and Exchange Commission and we’re going to use them and continue. I think it would be better if the platforms that are trading securities, the platforms that have lending products… that they come in and we sort through, figure out how best to get them within the perimeter. We’ll also be the cop on the beat, bringing those enforcement actions as well. Working with Congress would help, because there’s a lot of coordination by and amongst our financial regulators… In a world of stablecoins, I do think that there would be some help from Congress. I do think we can work with Congress with regard to the coordination again of commodities and securities. But in terms of the SEC, I do think we have robust authority, but there are gaps as I’ve identified them.”

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