US SEC Chairman: Cryptocurrencies are marketable securities

04/28 08:48

US Securities and Exchange Commission Chairman (SEC) Gary Gensler said on social media that cryptocurrencies are investment contracts under the law and the platforms offering them need to be registered with the SEC. Intermediaries must comply with securities laws and register with the Commission. Many platforms believe that the investment contracts they add are a different matter and that the regulations define what it really is, not what you call them. Gensler stresses that an investment contract exists when you invest money in a common enterprise with the reasonable expectation that the efforts of others will pay off. The crypto market suffers from a lack of compliance with regulations. This is not a lack of regulatory clarity. The law is clear and if you are a stock exchange, clearing house, broker or dealer you must comply with it and register with us.
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