The US Securities and Exchange Commission (SEC) Chairman Gary Gensler has reiterated his stance on the importance of cryptocurrency exchanges registering and disclosing proper information, The Block has reported.
This comes at a crucial time, as his tenure at the agency may be coming to an end.
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In his speech on Thursday, Gensler stressed that the vast majority of the 10,000 digital assets currently in circulation are considered securities.
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He also mentioned that, apart from popular cryptocurrencies such as Bitcoin, Ether and stablecoins, the global crypto market only accounts for $600 billion, which is less than 20% of the total and less than 0.25% of the global capital markets.