WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission is likely to embark on a renewed effort to write "long overdue" rules for the registration and regulation of security-based swap execution facilities, according to Chair Gary Gensler.
In a prepared speech delivered Wednesday, Gensler said he wants the SEC to harmonize such derivatives rules with similar ones already in place at the Commodity Futures Trading Commission. He also emphasized that any crypto token or similar product priced off the value of securities must adhere to securities laws, even when offered on a decentralized platform.
(Reporting by Pete Schroeder; Editing by Chizu Nomiyama)
Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products: