Do Pokémon Cards, NFTs Count As Securities? Here's What SEC Chair Gary Gensler Told Congress
Portfolio Pulse from Benzinga Neuro
SEC Chair Gary Gensler clarified that a physical Pokémon card does not qualify as a security. However, he was less clear on whether tokenized Pokémon cards, or Pokémon card NFTs, could be considered securities, stating he would need more information. The discussion took place during a U.S. House Committee on Financial Services meeting, where Gensler was questioned for nearly five hours. His stance on digital assets has been previously challenged, with critics suggesting his regulatory approach favors large financial institutions and stifles innovation.

September 28, 2023 | 7:09 am
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NEUTRAL IMPACT
The discussion on the classification of NFTs as securities could potentially impact the broader crypto market, including Bitcoin.
The classification of NFTs as securities could potentially lead to stricter regulations on the crypto market, which could impact the price of Bitcoin. However, as the SEC's stance is still unclear, the short-term impact is neutral.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50