Bitcoin price is above $45,000, and potential issuers have done everything necessary before official approvals. The ball is now in the SEC’s court, and official approval is expected before the end of Wednesday. While everyone is on edge, SEC Chairman Gensler started writing about cryptocurrencies, which he rarely does. So, what did he say?
Cryptocurrencies Breaking News
SEC Chairman Gensler may be known by most investors for the crypto securities cases he has opened, but he is also a name familiar with the field, having taught Bitcoin and crypto courses at MIT. In other words, he knows what cryptocurrencies are and what they are not better than most Democrats. A few minutes ago, on the eve of the SEC ETF approval, Gensler shared a list of considerations for those wanting to invest in cryptocurrencies.
There are three items on the list, and they are things he has highlighted before. However, the timing is quite significant. Here’s what he wrote:
“If you’re considering investing in crypto assets, there are some things you need to keep in mind.
Those offering crypto asset investments/services may not be complying with applicable laws, including federal securities laws. Investors in crypto asset securities should understand that they may be deprived of significant information and other important protections associated with their investments.
Investments in crypto assets can also be extremely risky and are often volatile. A number of major platforms and crypto assets have gone bankrupt and/or lost value. Investments in crypto assets continue to be subject to significant risks.
Scammers continue to take advantage of the increasing popularity of crypto assets to lure individual investors into fraud. These investments continue to be rife with frauds such as fake coin offerings, Ponzi and pyramid schemes, and outright theft where a project backer disappears with investors’ money.”
