2023.09.13
SEC Chairman Sticks to 'Cryptos Are Securities' Position
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler is emphasizing the need for cryptocurrencies to be regulated under the same laws as securities due to concerns about the industry's non-compliance with existing regulations. Gensler expressed his views ahead of an upcoming hearing, where he is expected to argue that cryptocurrencies fall within the SEC's jurisdiction. He highlighted the risks to investors and likened the current situation to the 1920s, before the establishment of federal securities laws, underscoring the importance of holding wrongdoers accountable and protecting investors.
