SEC Chairman Gary Gensler has spoken about the need to update the definitions of exchanges and alternative trading platforms. At the conference, he noted that financial markets have changed a lot since 1998. The new rules could affect crypto exchanges, as Gensler believes that they fall under the SEC's jurisdiction.

The proposed changes have drawn criticism, but Gensler is confident that they will protect investors and financial markets. The final rules have not yet been adopted, but if they are, crypto exchanges will be required to comply with SEC laws. 🚀