Gary Gensler once again urges cryptocurrency exchanges to comply with regulations.

Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), reiterated his call for cryptocurrency exchanges to comply with regulations and urged projects that sell securities to make appropriate disclosures during the annual securities regulation meeting on Thursday. Gensler stated that among the approximately 10,000 digital assets currently in circulation, most, except for Bitcoin, Ethereum, and stablecoins, could fall under the category of securities. The total value of these potential securities in the crypto market is around $600 billion, accounting for less than 0.25% of the global capital markets. Gensler's remarks come just a week after Donald Trump was elected president, who previously stated he would fire Gensler upon taking office. Gensler may choose to resign after his term as chairman ends, or he might opt to remain as an SEC commissioner. He also expressed that serving American capital markets is a tremendous honor and he takes pride in his efforts alongside his SEC colleagues to protect American investors.