Gary Gensler, chairman of the SEC, has detailed how securities rules apply to cryptocurrency tokens and outlined the commission’s goals in regulating the crypto market on CNBC Monday.
“Our responsibility as the SEC is to ensure that the public continues to get fundamental protection,” -he said.
“If you collect money from the public and the public expects to gain as a result of that promoter, sponsor, or group’s activities — that’s under the securities regulations, and it’s within the securities laws because Congress painted with a wide brush” -he added.
The SEC has declined to comment on the Ethereum question.
During an interview, the head of the financial watchdog indicated that the commission does not discuss individual projects or provide legal advice over the airways.
