SEC Chair Gary Gensler is standing firm that many cryptocurrencies fall under the securities laws despite pushback from the industry.
Securities and Exchange Commission Chair Gary Gensler is standing firm in his long-held view that many cryptocurrencies are subject to existing securities laws, despite pushback from the industry.
"There is nothing about the crypto asset securities markets that suggests that investors and issuers are less deserving of the protections of our securities laws," Gensler said. "Congress could have said in 1933 or in 1934 that the securities laws applied only to stocks and bonds. Yet Congress included a long list of items in the definition of a security, including 'investment contract.
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