The American regulator has determined that bitcoin is a commodity. Other cryptocurrencies May be sec
The chairman of the U.S. Securities and Exchange Commission (SEC) Gary Gensler (Gary Gensler) again confirmed that the first cryptocurrency is not interested in the Securities and Exchange Commission, because it is not an exchange and not a security. Bitcoin is a commodity. However, other cryptocurrencies should not relax - everything is not so simple with them. Gensler told all this during an interview with CNBC.
The head of the SEC cited bitcoin as an example of a cryptocurrency that should be regulated by the Commodity Futures Trading Commission (CFTC). Then Gensler got on his favorite horse and galloped: he mentioned that cryptocurrencies are a speculative asset class. By investing in the crypt, citizens expect to make a profit. Since many of the cryptocurrencies have the characteristics of securities (and precisely because they are considered as a tool for investment), their issuers will have to deal with the SEC. Everything is simple.
Some, like bitcoin, and it's the only [asset] I'm going to mention because I'm not going to discuss any of these tokens that my predecessors and others said they were a commodity.
Gensler's speech pleased bitcoin supporters. This means that at least fans of the first cryptocurrency can hope that the SEC will not stick to them.
Last week, the SEC chairman shared plans to conclude a formal agreement with the U.S. Commodity Futures Trading Commission to effectively regulate cryptocurrencies. Gensler explained that it is necessary to develop uniform rules so that attackers do not use regulatory gaps to commit fraud and manipulation in the market. To this end, the SEC Chairman is in the process of developing a Memorandum of Understanding (MoU) between the SEC and the CFTC. The document should eliminate all possible gaps in the regulation of the crypt.
https://coin-signal.com/cryptonews/the-american-regulator-has-determined-that-bitcoin-is-a-commodity-other-cryptocurrencies-may-be-securities/
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