Securities and Exchange Commission (SEC) Chair Gary Gensler has been under scrutiny for providing clarity over the crypto regulations. However, speaking at an event Gensler hinted that SEC might be handing some power to Commodity Futures Trading Commission (CFTC) to oversee digital assets.
According to The Wall Street Journal report, SEC Chair said that he looks ahead to working with Congress in order to give some power to CFTC. It might regulate certain digital assets like Bitcoin. He added that the agency needs more authority to supervise and form regulations around the crypto space.
Earlier, Coingape reported that the CFTC is likely to get the upper hand in regulating the Digital assets market against SEC.
However, the SEC Chair led the CFTC from 2009 to 2014. Gensler mentioned that he accepted sharing a job with the lawmakers as long it doesn’t takes authority from the SEC.
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