-Gary Gensler, chairman of the U.S. Securities and Exchange Commission, is steadfast in his stance on cryptoassets.
Gensler, who could be replaced by President Donald Trump as head of the SEC in a few weeks, remains steadfast in his stance on #cryptocurrencies and law enforcement.
ot all [cryptocurrency] assets are secure, Gensler said in a speech in New York May 11-14. He added that former SEC Chairman Jay Clayton and himself have said that #bitcoin is not a security, and that the commission has never considered bitcoin a security.
However, he still believes that most other cryptoassets are securities, even though there is no legal or congressional classification.
Our focus is on approximately 10,000 other #digital assets, many of which have been offered or sold by the courts as securities.
Gensler reiterated the same two points he has made in support of his many lawsuits over the past few
sler argued that cryptocurrencies are an area that has caused significant harm to investors over the years, and then made the same trite argument about illegal activity and said that most cryptoassets have yet to prove their sustainability.
On 11/14/18, 18 U. S. states filed a lawsuit against Gensler, accusing the SEC of a serious abuse of power against the crypto industry.
ews flash: 18 U. S. states have sued the Securities and Exchange Commission (SECGov) and its commissioner, Gary Gensler, alleging unconstitutional abuse of power and unwarranted harassment of the crypto industry: I am proud to work alongside my colleagues at the SEC who protect American families in the financial markets day in and day out.
The SEC chairman's term will officially end in 2026/6. However, the crypto industry and investors will not give up hope of fulfilling their promise to fire the CEO"on day one" if Trump is elected.
Read us at: Compass Investments
