The boss of the SEC warns: cryptocurrencies, he likes them regulated to the point

Since 2020, the Securities and Exchange Commission (SEC) led by its Chairman Gary Gensler, embarked on a court battle against Ripple (XRP). This procedure is still ongoing. This year again, the SEC promises to remain very attentive to the evolution of the crypto asset market.

Gary Gensler still very attached to the regulation of cryptocurrencies

On the occasion of a interview given to CNBC, the chairman of the SEC Gary Gensler reaffirmed its regulatory ambition in terms of cryptocurrencies. Indeed, he insisted on the need to introduce a regulations allowing to protect investors “from lies and fraud”.

Furthermore, he recalled that the securities regulations applied where an entity collects funds from the public, and that this one hopes for one profit. Under US law, a active meets the definition of security since there is a investment in a business and expectation on the part of investors of a profit, based on the growth of this business.

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Gary Gensler dodges Ethereum status question

In this same interview, Gary Gensler did not respond. to the question of whether the cryptocurrency Ethereum (ETH) comes under the definition of a security token. He thus stated:

“I’m the chairman of a 5-member commission, which is also a civilian law enforcement agency, so the SEC doesn’t get involved in these kinds of public debates to talk about a project, d a possible circumstance or give legal advice to the media. »

As a reminder, already in 2018, Gensler had stated that there were many clues indicating that theEthereum can be considered as a non-compliant financial title. Three years later, it is time for the SEC is clearly positioned on whether or not ETH is a security token.

This absence of a position from the SEC is not exceptional: indeed, the commission has the same attitude towards exchange-traded funds. (ETF) cash based on Bitcoin. At the beginning of January, it again postponed its decision to launch NYDIG’s spot Bitcoin ETF.

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The article The boss of the SEC warns: cryptocurrencies, he likes them regulated to the point appeared first on Journal du Coin.

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