U.S. Securities and Exchanges Commission Chair Gensler in a speech on Thursday said that companies that mediate transactions in the crypto space need to register with the SEC just as other market mediators. He said that crypto intermediaries serve a lot of functions that are monitored by the SEC, like working as an exchange, brokering, etc, and as such, should register with the SEC for regulations. This speech provides much-needed clarity on what exactly falls under the purview of the SEC and its regulatory jurisdiction.
