{"id":56867,"date":"2022-12-07T09:55:52","date_gmt":"2022-12-07T08:55:52","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=56867"},"modified":"2022-12-07T09:55:52","modified_gmt":"2022-12-07T08:55:52","slug":"ice-chief-asserts-crypto-will-be-regulated-as-securities-report","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/ice-chief-asserts-crypto-will-be-regulated-as-securities-report\/","title":{"rendered":"ICE Chief Asserts Crypto Will be Regulated as Securities"},"content":{"rendered":"
The head of NYSE-owner Intercontinental Exchange Inc. (ICE), Jeffrey Sprecher has reportedly claimed that most cryptocurrencies will be regulated under the existing securities laws.<\/strong> The ICE Chief exec has also suggested traditional financial giants such as the New York Stock Exchange may enter “tokenized trading”.<\/strong> <\/p>\n Following the implosion of FTX, what was one of the biggest crypto exchanges in the world, the calls for crypto regulation is growing louder. Regulators from all across the world are echoing greater urgency into regulating the crypto sector. Concerns regarding the volatility in the digital asset sector seem to revereberate through out the financial industry in the wake of astronomical losses in the space. <\/span><\/p>\n Recently, <\/span>the European Central Bank (ECB)<\/strong> made<\/a> a strong attack on the world of cryptocurrencies and blockchain. Lawmakers in Washington are also pushing for stringent regulations to monitor digital assets. Republican senator Cynthia Lummis is putting enormous pressure on the Congress to start paying attention to crypto.<\/span><\/p>\n According to a new report<\/a>, Sprecher has suggested that most of the crptocurrenies are likely to be regulated as securities in the United States<\/strong>. He argued that stocks are heavily regulated, and these regulations protect\u00a0investors from fraud and other risks. On the other hand, due to lack of clear regulation, the crypto markets carry “less certainty” with them, and hence, greater risk than the stock market.<\/p>\n Speaking at the financial services conference by Goldman Sachs Group Inc, Sprecher stated that new regulation was not necessarily required for crypto as the legal framework is already there in terms of securities and they are \u201cjust going to be implemented more strongly.”<\/strong> The ICE chief added,<\/p>\n “What does that mean? It means more transparency, it means segregated client funds, the role of the broker as a broker-dealer will be overseeing and the exchanges will be separated from the brokers. The settlement and clearing will be separated from the exchanges.”<\/em><\/p>\n The collapse of one of the largest crypto platforms shows how much of the industry appears to be smoke and mirrors. We need more aggressive enforcement and I'm going to keep pushing @SECGov<\/a> to enforce the law to protect consumers and financial stability.https:\/\/t.co\/uOPi8MV25J<\/a><\/p>\n — Elizabeth Warren (@SenWarren) November 10, 2022<\/a><\/p><\/blockquote>\nWill Cryptocurrencies be Treated as Securities?<\/h2>\n
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Calls for Growing Regulations<\/h2>\n
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