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The SEC's directive comes amid increasing scrutiny and skepticism toward digital assets, which have exacerbated forex and economic issues in the country.
Gensler also reaffirmed his previous stance that most crypto tokens are securities under the "law of the land."
Congressman Matt Gaetz (R-Fla.) said the bill will ensure that the US remains at the forefront of technological advancement.
The same issues are at play in several other US states.
Accounting experts believe the changes Coinbase made to its accounting reports could potentially be in violation of GAAP.
Jump Crypto President Kanav Kariya has resigned, effective immediately.
Ripple tried to dismiss the charges by arguing that XRP was not a security.
The federal agency is reportedly examining the firm's trading and investment activities in the crypto sector, though this scrutiny does not imply any misconduct.
Consensys calls SEC investigation closure a pivotal moment for Ethereum and blockchain innovation
