Experts at the US Securities and Exchange Commission (SEC) have just recommended a flexible approach to the registration of digital tokens as securities.
The transcript of the regulator's chairman Gary Gensler's upcoming speech before the US Senate contains a similar statement.
According to the document:
"I’ve asked the SEC staff to work directly with entrepreneurs to get their tokens registered and regulated, where appropriate, as securities. Given the nature of crypto investments, I recognize that it may be appropriate to be flexible in applying existing disclosure requirements."
In an upcoming speech, Gensler will reiterate the position that most crypto assets are securities and that industry participants must register with the agency "whether they call themselves decentralized or not."
The SEC chairman has described cryptocurrencies as "money market holdings or other types of securities" that are also subject to regulation and registration with the Commission.