As SEC Chair Gensler Testifies Before Congress, Crypto Prices Enjoy Positive Run
Portfolio Pulse from Khyathi Dalal
During the testimony of U.S. Securities and Exchange Chair Gary Gensler before Congress, Bitcoin (BTC) and Ethereum (ETH) prices rose by nearly 4%. Gensler reiterated his stance that crypto asset securities markets should be subject to the same protections as traditional securities. He also suggested that most crypto tokens likely meet the investment contract test, implying they should comply with securities laws.
September 12, 2023 | 4:37 pm
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POSITIVE IMPACT
Bitcoin prices rose nearly 4% during SEC Chair Gensler's testimony before Congress, where he reiterated the need for crypto securities to comply with securities laws.
The positive sentiment around the regulatory clarity provided by Gensler's testimony likely contributed to the rise in Bitcoin prices. As he emphasized the need for crypto securities to comply with securities laws, this could be seen as a positive step towards mainstream acceptance of cryptocurrencies.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Ethereum prices rose nearly 4% during SEC Chair Gensler's testimony before Congress, where he reiterated the need for crypto securities to comply with securities laws.
The positive sentiment around the regulatory clarity provided by Gensler's testimony likely contributed to the rise in Ethereum prices. As he emphasized the need for crypto securities to comply with securities laws, this could be seen as a positive step towards mainstream acceptance of cryptocurrencies.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100