{"id":7863,"date":"2022-10-16T01:36:25","date_gmt":"2022-10-16T01:36:25","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=7863"},"modified":"2022-10-16T01:36:26","modified_gmt":"2022-10-16T01:36:26","slug":"us-lawmaker-calls-on-sec-to-issue-crypto-regulations-says-a-formal-regulatory-process-is-needed-now","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=7863","title":{"rendered":"US Lawmaker Calls on SEC to Issue Crypto Regulations \u2014 Says &#8216;a Formal Regulatory Process Is Needed Now&#8217;"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>A U.S. senator has called on the Securities and Exchange Commission (SEC) to issue crypto regulations now \u201cthrough a transparent notice-and-comment regulatory process.\u201d He stressed that \u201csome digital assets are securities, others may be commodities, and others may subject to a completely different regulatory regime.\u201d<br \/><\/strong><\/p>\n<h2>US Senator Calls for \u2018Transparent Notice-and-Comment Regulatory Process\u2019 to Regulating Crypto Assets<\/h2>\n<p>U.S. Senator John Hickenlooper (D-CO) has sent a letter to the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, regarding crypto regulations.<\/p>\n<p>In his letter dated Oct. 13, the senator told Gensler, \u201cClear rules promote an environment where investors are protected,\u201d adding:<\/p>\n<p>I write to urge the SEC to issue regulations for digital asset securities through a transparent notice-and-comment regulatory process.<\/p>\n<p>He stressed: \u201cCurrently, digital asset markets do not have a coordinated regulatory framework. This creates uneven enforcement, and deprives investors of a clear understanding of how they are protected from fraud, manipulation, and abuse.\u201d<\/p>\n<p>Noting that existing laws and regulations were not designed for digital assets, he explained: \u201cApplying the old rules to the new market could inadvertently cause financial services to be more expensive, less accessible, and the SEC\u2019s disclosure regime to be less useful to the American people.\u201d The senator noted:<\/p>\n<p>Given the complexity of these issues, and recognizing that some digital assets are securities, others may be commodities, and others may subject to a completely different regulatory regime, a formal regulatory process is needed now.<\/p>\n<p>\u201cThis will significantly improve policy development and allow the SEC to collect views and understand concerns,\u201d he said.<\/p>\n<p>The senator proceeded to outline some of the key areas that the SEC should address, including clarifying what types of digital assets are securities, addressing how to issue and list digital securities, establishing a registration regime for digital asset security trading platforms, and setting rules on how trading and custody of digital assets should be carried out.<\/p>\n<p>Hickenlooper opined:<\/p>\n<p>I recognize these questions are complicated, but it is time for the SEC to engage.<\/p>\n<p><em><strong>What do you think about the letter from Senator Hickenlooper to SEC Chairman Gary Gensler? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/us-lawmaker-calls-on-sec-to-issue-crypto-regulations-says-a-formal-regulatory-process-is-needed-now\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A U.S. senator has called on the Securities and Exchange Commission (SEC) to issue crypto regulations now \u201cthrough a transparent notice-and-comment regulatory process.\u201d He stressed that \u201csome digital assets are securities, others may be commodities, and others may subject to a completely different regulatory regime.\u201d US Senator Calls for \u2018Transparent Notice-and-Comment Regulatory Process\u2019 to Regulating [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-7863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7863"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7863\/revisions"}],"predecessor-version":[{"id":7865,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7863\/revisions\/7865"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/7864"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}