(Bloomberg) -- Wall Street bond traders are getting another warning that they might soon have less time to report their transactions to regulators.

Securities and Exchange Commission Chair Gary Gensler repeated his call to slash the amount of time that traders have to report many bond transactions as part of a bid to increase visibility into fixed-income markets. Speaking at an event on Monday, Gensler said that he thought the current 15-minute limit was too long.

“We can shorten this time frame,” Gensler said during a Financial Industry Regulatory Authority event. “That’s a lifetime in markets.”

Last month Gensler said that more transparency was needed across global bond markets, and that disclosures had generally failed to keep up with technological changes. He also raised the specter of including additional types of securities in the reporting requirements. 

The amount of time that traders have to report fixed-income transactions to FINRA’s Trace system has been a hot-button issue for years. Any changes are likely to take time to implement. Financial firms will have a chance to weigh in as any proposal would have be subject to a complicated rule-making process that includes approval by the SEC, which oversees the industry-backed regulator.

Crypto Regulation

Separately, Gensler previewed how federal regulators are addressing a wrinkle in their efforts to police cryptocurrency markets. He said the SEC and the Commodity Futures Trading Commission are working together on a document that would lay out the division of labor for overseeing a “small handful of tokens” that evoke both agencies’ jurisdictions. The SEC, which oversees securities, and the CFTC, the US derivatives watchdog, each claim some power over digital assets.

(Updates with additional background, crypto regulation comments starting in fifth paragraph.)

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