Gary Gensler Firm On Stance That Most Tokens Subject To Securities Laws: 'Not Surprising That We've Seen Many Problems..'
Portfolio Pulse from Mehab Qureshi
SEC Chair Gary Gensler maintains that most cryptocurrencies and crypto firms should comply with federal securities laws. He acknowledges widespread noncompliance within the crypto industry. Gensler also mentions the SEC's recent rulemaking efforts, including a release that categorizes crypto platforms as part of the definition of an exchange. The SEC has delayed approval of Ark Invest and 21Shares’ Bitcoin ETF application on the Cboe BZX Exchange until January 10, 2024.
September 27, 2023 | 5:02 am
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NEGATIVE IMPACT
The SEC's delay in approving Ark Invest's Bitcoin ETF could impact the firm's short-term performance.
The delay in approval of the Bitcoin ETF could lead to uncertainty among investors, potentially affecting Ark Invest's stock performance in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SEC's stance on crypto compliance and delay in approving Bitcoin ETFs could impact Bitcoin's price in the short term.
The SEC's strict stance on crypto compliance and the delay in approving Bitcoin ETFs could create uncertainty in the market, potentially affecting Bitcoin's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90