SEC Chief Gary Gensler Believes Most Crypto Assets Are Securities: – Gensler, potentially weeks away from being replaced by President-elect Donald Trump, maintains his stance on crypto and enforcement. – Gensler stated in a New York speech that not every crypto asset is a security, but most are. – He reiterated that Bitcoin is not a security and the SEC has never treated it as such.
– Gensler believes there is significant investor harm in the crypto industry due to illicit activities and unproven use cases. – 18 US states filed a lawsuit against Gensler and the SEC, accusing them of unconstitutional overreach and unfair persecution of the crypto industry. – Gensler’s term as SEC chair officially ends in June 2026, but the crypto industry and investors hope for his removal if Trump is elected.
– Ripple’s XRP skyrocketed 18% following Gensler’s remarks, as investors see renewed hope for the quashing of the four-year-long legal battle with the SEC.
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