Gary Gensler, chairman of the US Securities and Exchange Commission (SEC) has said that the crypto industry still needs to come under securities laws in 2022. He stated that the facts and circumstances in the crypto market suggest that a lot of crypto projects are securities.
Gary Gensler is still beating the same gong in 2022
Speaking on CNBC’s Squawk Box, the SEC chair reiterated his stance on the need for regulatory compliance in the cryptocurrency industry. While declining to answer if Ethereum was a security or not, Gensler explained in general that any cryptocurrency project that was raising money from the public needed to bring itself under the U.S. Security Act.
His response was similar when he was asked about the recent ConstitutionDAO project that tried to buy the constitution of the US by crowdfunding with crypto. He continued to sidestep focusing on any one project in his response noting that his office did not allow him to pass verdicts on particular issues on air.
I won
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