Activities cryptocurrency exchanges can be improved by applying some of the principles of regulation of the stock market, said the Chairman of the Commission, US securities and exchange Commission (SEC) Jay Clayton. In his opinion, and the ICO should be regulated similarly to the securities market.
In turn, the head of the SEC division of trading and markets Brett Redfern compared the growing cryptocurrency market is the Wild West and reported the presence of actual problems for the regulator.
«Now there was exchange platforms, there are no registered alternative trading systems (ATS) – and this is a big problem for us», – stressed Redfern — informed member of the Board of Directors of JPMorgan Chase.
He also said that the Department is now very busy considering the many recent ICO.
Cryptocurrency market is like the stock market in the 1990s, when they began to appear electronic trading platforms known as electronic communication network (ECN), and the prices are not always the same. But the rules have evolved, and the stock market has since become more efficient, said Redfern.
«No need to apply all the rules on the securities market, but there are certain principles that exist in this space, and we should use them when you trade cryptocurrencies, he said. – These principles include surveillance, policy, best execution of transactions, protection from fraud, market manipulation and theft».