United States Securities and Exchange Commission (SEC) Chair Gary Gensler said on Thursday that crypto exchanges must comply with regulators' rules.
"The law is clear," Gensler stated in a video posted on Twitter. "If you're a securities exchange, clearinghouse, broker, or dealer, you must come into compliance, register with us, and deal with conflicts of interest and disclose important information," he stressed.
The comments come after crypto exchange Coinbase sued the SEC earlier this week, seeking to force the regulator to answer to a petition from July 2022 that urged it to "propose and adopt rules to govern the regulation of securities that are offered and traded via digitally native methods." Earlier, the exchange slammed the US' approach to crypto regulations and called on American lawmakers to "pass pro-crypto policies."
