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23.05 - 15:03
SEC chair Gary Gensler says crypto assets are securities and thus ‘core to our remit’
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fnlondon.comSecurities and Exchange Commission chair Gary Gensler said that crypto assets count as a “security contract”, which falls under the securities umbrella and therefore within the purview of the SEC.
“The fact is, most crypto tokens involve a group of entrepreneurs raising money from the public in anticipation of profits. That's the hallmark investment contract or security under our jurisdiction,” he said at the International Swaps and Derivatives Association’s AGM.
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