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What the SEC chair’s comments on crypto mean for possible bitcoin ETF

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Gary Gensler, chairman of the Commodity Futures Trading Commission (CFTC), speaks during a Senate Banking Committee hearing in Washington, D.C., U.S., on Tuesday, July 30, 2013.

Andrew Harrer | Bloomberg | Getty Images

The head of the SEC says crypto assets need a lot more regulation before they can move forward.

“This asset class is rife with fraud, scams, and abuse in certain applications,” SEC Chairman Gary Gensler said at the Aspen Security Forum on Tuesday.

“We need additional congressional authorities to prevent transactions, products, and platforms from falling between regulatory cracks.”

Gensler addressed several aspects of the crypto business in his speech.

Digital tokens: Gensler…



Source cnbc.com

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