FTX, Congress, Stablecoins: What 2023 May Bring for Crypto Regulations

The U.S. Securities and Exchange Commission (SEC) may also be gearing up to force exchanges into compliance with existing rules. SEC Chair Gary Gensler has long said he believes his agency has the authority it needs to regulate crypto companies, and that the law is clear in his view that most cryptocurrencies are securities and therefore more crypto exchanges are securities trading platforms. More recently, the SEC has suggested that it may be moving closer to actually doing something about this; Enforcement Director Gurbir Grewal said the runway for crypto companies is getting shorter, and the collapse of FTX has heightened the pressure for regulators to get a hold of this industry before something else falls apart.