Gensler is a name who is familiar with cryptocurrencies and is well aware of the risks in this field. The only problem is that he is the chairman of the SEC. Gensler, who defines almost all cryptocurrencies as securities, adopts a strict attitude in this area. With the lawsuit opened in June, he caused investors to experience double-digit losses in altcoins.
Statements by the SEC Chairman
Gensler, who attended a session regarding the SEC’s 2024 financial budget, has been giving testimony for about half an hour. Gensler, who does not forget to include cryptocurrencies in his agenda, did not say anything new. The regulatory agency chairman mainly reiterates his past statements and draws attention to the risks in this area.
- Most cryptocurrencies fall under the category of investment contracts/securities.
- The lack of regulation in the crypto field causes investors to suffer significant losses in speculative markets. This is an important risk for them.
- Gensler, who says that token sales should bring the relevant assets under their supervision by raising money from investors, continued to speak about the financial budget later.
- Similar to the CFTC, the SEC is requesting additional resources for its work in the crypto field.
XRP Coin price continues to find buyers above $0.82, disregarding repeated statements. The Tesla earnings report, which will be announced in about half an hour, is one of the most critical topics of the day.
