The US Securities and Exchange Commission (SEC) does not only investigate the central exchange Coinbase. Exchanges of Bitcoin (BTC) and other cryptocurrencies will also be subject to scrutiny by the regulator, a member of US Senator Cynthia Loomis’s task force suggested to Forbes.
In the opinion of that source, who was quoted by the magazine on condition of anonymity, All stock exchanges operating in that country, Including Binance, which is one of the largest companies in the world, They are within “several stages of investigation” by the SEC. In that country, at least 40 exchange offices operate.
All of this is happening at a time when the Securities and Exchange Commission is defending its authority to regulate the Bitcoin ecosystem in the US, and the CFTC is also contesting said authority.
Indeed, if this obstacle cannot be resolved, US lawmakers will have to step in, and “Congress will likely stand by the CFTC” A Lummis team member told that publisher.
He added that the talks between the two agencies were not fruitful. He insisted that “the final decision on who gets which power will likely be in the hands of lawmakers.”
Along these lines, the CEO of a US-based exchange told Forbes that according to conversations he hears from members of the Securities and Exchange Commission, It is possible that there are several cryptocurrency exchanges that have received notifications about the initiation of investigations against them This committee was led by banker Gary Gensler.
As we reported on CriptoNoticias a few days ago, the Securities and Exchange Commission (SEC) made a swipe on Coinbase allegedly allowing users to trade tokens that should have been registered as securities. For this, The presence of a major driver for the increase in the token offerings maintained by this American companyalso a reference to the coding ecosystem.
There is no law approved in the short term
The thing that Senator Cynthia Loomis’ team has highlighted is that she does not believe that any of the bills seeking to regulate the bitcoin market will be passed in Congress, At least not in the short term.
Just yesterday, Wednesday, a pair of senators introduced the Digital Goods Consumer Protection Act of 2022, under which they intend to give the CFTC greater powers to regulate the bitcoin space. Prior to that, Senator Loomis introduced the Responsible Financial Innovation Act, which also seeks to give the ecosystem a regulatory cycle.
But the chance of both projects being approved is less than 50% this year.According to the source. “The only way is if a catastrophic event, such as a major US stock market crash, can bring lawmakers together,” he said.
However, expect it The bill most likely to sink with lawmakers is the one that pertains to stablecoinsAnd the This will allow US banks to issue their own stable digital currencies. This can be added to the appropriations law scheduled for the end of 2022.