Select Page

Just-In: Gary Gensler Says a lot of crypto assets qualify as Security

Just-In: Gary Gensler Says a lot of crypto assets qualify as Security
Loading...
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

Gary Gensler, the newly appointed chief of the US Security and Exchange Commission recently appeared on CNBC to talk about various aspects of his regulatory policies in the coming time including cryptocurrencies. During the interview, Gensler said that the current crypto market requires a regulatory overhaul especially considering a majority of the cryptocurrencies qualify as a security. Thus, the onus falls on the regulatory body to ensure investor protection.

“To the extent that something is a security, the SEC has a lot of authority. And a lot of crypto tokens — I wont call them cryptocurrencies for this moment — are indeed securities.”

He added,

“We need to update and freshen our rules to ensure that, while retail investors and any individual has first amendment rights to speak and so forth, that they’re not misleading the public, they’re not manipulating the public, manipulating the markets,”

Gensler who is seen as pro-crypto by many suggested that the crypto market despite the hype needs to adhere to the regulatory policies that ensure first and foremost investor protection. He also went on to call Bitcoin a “speculative” store of value.

Bitcoin and Ether are only two crypto assets that are not deemed as Security by the SEC, while most of the other assets are seen as security. The ongoing SEC vs Ripple case however may change the way SEC classify crypto assets s Security and non-security.

Gensler Says the US SEC Should be ‘Technology Neutral’

The new SEC chief went on to claim that even though there is a soaring demand for Bitcoin and other cryptocurrencies, the regulatory body must ensure that the market is well-regulated and remain technology-neutral. He also suggested that the new regulations should give the regulatory body some form of authority to oversee the crypto exchanges, similar to the equity and futures markets.

The recent comments from the new SEC chair sound cautious for the crypto exchanges and digital assets and indicate that the crypto market might be heavily regulated in the coming days.

Loading...

The post Just-In: Gary Gensler Says a lot of crypto assets qualify as Security appeared first on Coingape.

 

Source: Coingape

 


All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.es here

Loading...

Categories

Select Sub Category
category
60d0179ca4bde
1
1
Loading....

Reviews

All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber