CryptoU.S. SEC Chairman: Securities Law Violations Widespread in Encryption Industry

U.S. SEC Chairman: Securities Law Violations Widespread in Encryption Industry

U.S. Securities and Exchange Commission Chairman Gary Gensler will testify before the House Financial Services Committee tomorrow. According to prepared testimony, Gensler once again stated that most cryptocurrencies and crypto companies are subject to federal securities laws.

“These securities laws have been around for decades, and given the widespread noncompliance with securities laws in this industry, it’s not surprising that we’re seeing a lot of problems in these markets,” he said. “We’ve seen this story before.” This is reminiscent of the situation in the 1920s before the federal securities laws were implemented.

In his testimony, Gensler cited the agency’s rulemaking, including a statement issued in April that crypto platforms had become part of the definition of an exchange, including DeFi platforms.

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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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