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U.S. SEC chair says agency to write new rules for swaps regulation

·1 min read

WASHINGTON, July 21 (Reuters) - The U.S. Securities and Exchange Commission is likely to embark on a renewed effort to write "long overdue" rules for the registration and regulation of security-based swap execution facilities, according to Chair Gary Gensler.

In a prepared speech delivered Wednesday, Gensler said he wants the SEC to harmonize such derivatives rules with similar ones already in place at the Commodity Futures Trading Commission. He also emphasized that any crypto token or similar product priced off the value of securities must adhere to securities laws, even when offered on a decentralized platform. (Reporting by Pete Schroeder Editing by Chizu Nomiyama)