“Our authority is around securities and around asset managers and products that might invest in these cryptocurrencies,” Gensler said during his testimony before the House Financial Services Committee.
“There is a lot of authority that SEC currently has in the security space, and there are a number of cryptocurrencies that fall within that jurisdiction.
“If one trades bitcoin in America today, there is no investor protection regime that really protects as I think would be appropriate around these exchanges,” he said at the hearing.