Future

Satoshi

Bitcoin

When Gensler first encountered cryptocurrencies, most of the investors in the <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a> today were unaware of <a href="https://en.coin-turk.com/crypto-market-shakes-as-blackrock-files-for-bitcoin-etf-and-gbtc-soars/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>. During his three years in office, Gensler, who taught at MIT in 2018, emphasizing the greatness of Bitcoin and blockchain, made a significant impact on the industry. With his stance in the XRP Coin case and his unfair ETF rejections, he had no time to take steps on regulations.
<h2 style="text-align: justify" id="sec-chairman-and-cryptocurrencies">SEC Chairman and Cryptocurrencies</h2>
In his speech at the 2023 Securities Practice Forum today, Gensler expressed in clear words that his approach to crypto has not changed. Every statement that will come from the SEC is closely followed due to increased optimism for ETF approvals.
<img decoding="async" class="wp-image-270231 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/Gensler-Kripto-Aciklama.png" alt="" width="738" height="400">
Gensler, the nightmare of crypto, said the following;
<blockquote>
 “There is nothing that shows that cryptocurrencies/digital assets deserve less protection under our securities laws for investors and issuers in the securities markets. Congress could have said that the securities laws apply only to stocks and bonds in 1933 or 1934. However, Congress included a long list in the definition of securities, including ‘investment contracts’.”
</blockquote>
This definition of investment contracts yields positive results in cryptocurrencies with an expanded Howey test. This is what Gensler is trying to get accepted in the US.
<blockquote>
 “This space is full of fraud, bankruptcies, and money laundering. Many organizations in this space claim that they operate outside the scope of regulations published before Satoshi Nakamoto’s white paper, but they do not hesitate to seek the protection of laws by filing for bankruptcy and litigating their private disputes. And don’t get me involved in crypto, it is an extremely incompatible area.”
</blockquote>
While <a href="https://en.coin-turk.com/cryptocurrency-market-update-the-latest-on-bitcoin-xrp-and-litecoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> dropped to $34,600 during Gensler’s statements, it would be appropriate to consider some of these as personal opinions. After all, Hinman also contradicted Gensler on many issues and the institution did what was necessary. If what is needed now is to approve ETFs, they will do it despite Gensler. Continue Reading: <a href="https://en.coin-turk.com/sec-chairman-talks-about-cryptocurrencies-and-the-future-of-etfs/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/sec-chairman-talks-about-cryptocurrencies-and-the-future-of-etfs/</a>

SEC Chairman Talks About Cryptocurrencies and the Future of ETFs

Table of Contents

COINTURK NEWS

Other articles published on Oct 25, 2023

OCBC Bank to Deploy Generative AI Chatbot Globally After Successful Trial

Virtual Reality Vs. Metaverse: Understanding The Distinctions

holoride Launches Ethereum Bridge on MultiversX, Unlocking the Power and Potential of the RIDE Token

Bankrupt FTX Weighing Relaunch Proposals From Three Bidders

Shiba Inu's Potential Surge: A Glimpse into a Bullish Futu

VZ Stock Price Surges 9%; Correction Over in Verizon Stock?

Join our free newsletter for daily crypto updates!