'There's no reason to treat the crypto market differently from the rest of the capital markets just because it uses a different technology,' said SEC Chair Gensler. cryptocurrency bitcoin
Noting that “the SEC will serve as the cop on the beat,” Gensler encouraged crypto trading and lending platforms “to come in and talk to SEC staff.”The chairman of the U.S. Securities and Exchange Commission , Gary Gensler, authored an opinion piece published in the Wall Street Journal Friday on how crypto assets should be regulated. He described:
“Recent market events show why it is critical that crypto firms comply with securities laws,” Gensler explained. “In recent months, some crypto lending platforms have frozen their investors’ accounts or gone bankrupt. When it comes to bankruptcy, these investors have to get in line at the court.” Across decades of cases, the Supreme Court has made clear that the economic realities of a product — not the labels — determine whether it is a security under the securities laws.
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