PANews reported on November 14 that according to The Block, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), once again urged cryptocurrency exchanges to comply with regulations and require projects selling securities to make appropriate disclosures at the annual securities regulations meeting on Thursday. Gensler said that among the approximately 10,000 digital assets currently in circulation, most of them, except Bitcoin, Ethereum and stablecoins, may fall into the category of securities.
He pointed out that the total value of these possible securities in the crypto market is about $600 billion, accounting for less than 0.25% of the global capital market. Gensler's remarks came a week after Trump was elected president. Trump had previously stated that he would fire Gensler after taking office. Gensler may resign after his term as chairman ends, or he may choose to continue to serve as an SEC commissioner.
Gensler also said it was a great honor to serve the U.S. capital markets and he was proud of his efforts with his SEC colleagues to protect American investors.
