US SEC Chairman: Staff has been asked to cooperate with token projects to register digital tokens as securities

In written testimony to the Senate Banking Committee, SEC Chairman Gary Gensler said he wants SEC staff to have a "flexible" path to work with token projects to register digital tokens as securities. “I have asked the staff to recommend a way to allow security tokens and non-securities tokens to trade with each other or at the same time as part of the process of registering a crypto securities intermediary.” In addition, Gary Gensler reiterated the SEC's long-term position that "most encrypted tokens are securities", and many intermediaries need to register with the SEC, "whether they call themselves centralized or decentralized", he specifically mentioned "DeFi ". Foresight News previously reported that Gary Gensler will appear before the U.S. Senate Banking, Housing and Urban Affairs Committee hearing on Sept. 15 to testify about his approach to the cryptocurrency industry.