Top US regulator Gary Gensler ups the pressure on crypto exchanges after Coinbase spat, saying they need to ‘come in and talk to us’

Top US regulator Gary Gensler ups the pressure on crypto exchanges after Coinbase spat, saying they need to ‘come in and talk to us’

Securities and Exchange Commission boss Gary Gensler has said crypto exchanges need to "come in and talk" to the markets regulator, just days after clashing with trading platform Coinbase over one of its products. Gensler will appear before the Senate banking committee on Tuesday and used his to increase the pressure on crypto exchanges, which he has previously said he would like to regulate . The SEC boss said exchanges need to register with the Commission, because some of their tokens or products may be securities. That's unlike bitcoin, which regulators think is more like a commodity. "I've suggested that platforms and projects come in and talk to us. Many platforms have dozens or hundreds of tokens on them," Gensler said. "While each token's legal status depends on its own facts and circumstances, the probability is quite remote that, with 50, 100, or 1,000 tokens, any given platform has zero securities." He added: "Make no mistake: To the extent that there are securities on these trading platforms, under our laws, they have to register with the Commission unless they qualify for an exemption." Gensler's strong statement comes after the SEC , threatening to sue the crypto exchange if it went