Crypto Can't Dodge The Law With Fancy Talk, Says SEC's Gary Gensler
Portfolio Pulse from Murtuza Merchant
SEC Chief Gary Gensler stated that utility claims cannot be used as a shield for crypto assets or exchanges to escape securities regulations. His comments follow the SEC's crackdown on cryptocurrency exchanges Coinbase and Binance, and whether they're trading unregistered securities. Gensler emphasized that compliance is possible for crypto platforms and that the SEC has provided extensive guidelines to market participants.
June 08, 2023 | 8:56 pm
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NEGATIVE IMPACT
SEC Chief Gary Gensler's comments on crypto assets and securities regulations may impact Binance, as the company is under scrutiny for potentially trading unregistered securities.
Gary Gensler's comments on crypto assets and securities regulations indicate that the SEC is taking a stricter approach towards cryptocurrency exchanges like Binance. This may lead to increased regulatory scrutiny and potential enforcement actions, which could negatively impact Binance's BNBUSD in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SEC Chief Gary Gensler's comments on crypto assets and securities regulations may impact Coinbase, as the company is under scrutiny for potentially trading unregistered securities.
Gary Gensler's comments on crypto assets and securities regulations indicate that the SEC is taking a stricter approach towards cryptocurrency exchanges like Coinbase. This may lead to increased regulatory scrutiny and potential enforcement actions, which could negatively impact Coinbase's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80