SEC against Crypto

SEC against Crypto

SEC Chairman Gary Gensler said that all cryptocurrencies, except bitcoin, fall into the category of securities. Aggravation can have a significant impact on the volatility of cryptocurrency rates. I would like to believe that such statements are not manipulation in the run-up to the recession and the threat of default in the U.S.

"Intermediaries for investment contracts are required to comply with securities laws & register with SEC. Instead, many crypto platforms are contending that their investment contracts are something else" - Gary Gensler.

This is a dangerous trend of attacking crypto. The outflow of funds from crypto funds continued for the fifth week in a row. In addition, many have accused Gensler of inconsistency. For example, Ryan Adams cited a 2018 video in which Gensler claimed during a lecture at MIT that the SEC had already determined that three-quarters of digital assets were not investment contracts.

Recall that the leader of the Republican majority in the U.S. House of Representatives, Tom Emmer, criticized the SEC chairman's approach to the regulation of cryptocurrencies. Congressman Warren Davidson announced a bill suggesting Gensler's resignation from his post.

We need to stop manipulating and taking claims about cryptocurrency more seriously, traders and investors should be confident in the consistency of the regulator's position and plan their activities rationally