A U.S. senator has called on the Securities and Exchange Commission (SEC) to issue crypto regulations now “through a transparent notice-and-comment regulatory process.” He stressed that “some digital assets are securities, others may be commodities, and others may subject to a completely different regulatory regime.”

US Senator Calls for ‘Transparent Notice-and-Comment Regulatory Process’ to Regulating Crypto Assets

U.S. Senator John Hickenlooper (D-CO) has sent a letter to the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, regarding crypto regulations.

In his letter dated Oct. 13, the senator told Gensler, “Clear rules promote an environment where investors are protected,” adding:

I write to urge the SEC to issue regulations for digital asset securities through a transparent notice-and-comment regulatory process.

He stressed: “Currently, digital asset markets do not have a coordinated regulatory framework. This creates uneven enforcement, and deprives investors of a clear understanding of how they are protected from fraud, manipulation, and abuse.”

Noting that existing laws and regulations were not designed for digital assets, he explained: “Applying the old rules to the new market could inadvertently cause financial services to be more expensive, less accessible, and the SEC’s disclosure regime to be less useful to the American people.” The senator noted:

Given the complexity of these issues, and recognizing that…