SEC Chairman Will Speak About Cryptocurrencies in the Committee: What Will He Say?

In his speech to the Senate, SEC Chairman Gary Gensler will reiterate his statements that many cryptocurrencies are securities.

Chairman of the U.S. Securities and Exchange Commission (SEC) Gary Gensler, today at 17.00 ET He will appear before the Senate Banking Committee and testify. Gensler will reiterate today that many cryptocurrencies are securities and should be regulated by the SEC, according to the filing he prepared for the hearing.

In his dossier, Gensler stated that the “vast majority” of cryptocurrencies under securities laws While once again stating that investors who transfer money to such assets are must comply with the laws He reminded that they were:

Given this industry’s widespread non-compliance with securities laws, it is not surprising that we see many problems in these markets. The vast majority of cryptocurrencies likely meet the investment contract test. Given that most cryptocurrencies are subject to securities laws, it follows that most crypto brokers must also comply with securities laws.

SEC’s recent grayscale And RippleThe loss of the case against appears to have caused no change in Gensler’s views. It is expected that the cases in question will also be discussed at the hearing.

On the other hand, by the SEC Binance And coinbase It is estimated that lawsuits filed against the industry’s giant stock exchanges, such as , will also be included in the hearing.

source site-9