Cryptocurrencies, priority of the year for the SEC: bitcoin better watch out

Crypto regulation on the agenda – The year 2022 has been a terrible year for the crypto industry. Crisis of confidence, execrable macroeconomic context are all evils that have been able to scratch the industrial sector. This hecatomb has only awakened the wrath of some regulatorsin particular to UNITED STATES. In this sense, one of the main divisions of the DRY (Securities and Exchange Commission) announced yesterday that cryptocurrencies were on its list of priorities for the new year. Enough to thrill US wallets.

Shock treatment for cryptocurrencies and severe regulation are therefore on the agenda of this to-do list made in the SEC. THE cryptos are not the only ones to be in the sights of the regulator. All forms of emerging technologies being referred to as a “ top priority “.

Exchanges and other players in the cryptographic industry are therefore targeted by a constraint list including :

  • Compliance with due diligence;
  • increased monitoring of advertising;
  • review of cybersecurity practices;
  • observation of risk management;
  • an amplified control of the custody of assets.

Statements by Gary Gensler, quoted in the SEC press release, support the will of iron of the regulator:

“In an era of growing markets, changing technologies and new forms of risk, our examinations division continues to protect investors (…) By executing the 2023 priorities, the division will help ensure compliance with laws and rules federal securities regulations.

Statement by SEC Chairman Gary Gensler

This well-filled list of tasks for the regulator is a reflection of its objectives: to improve the securities market supervision. To do this, it asks industry players for the full compliance with protection standards necessary for their users.

Disputes between members of the crypto industry and the SEC are numerous. Gemini and Genesis, Circle (USDC) or Grayscale, all come up against the US regulator who does not intend to leave Bitcoin and cryptocurrencies in peace. Quite the contrary. The different crypto scams pinned, or even the FTX affair allowing him to justify the severity of his decisions.

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