Crypto Twitter Gears Up for a Fight: SEC’s Gensler Dubs ‘Everything Except Bitcoin’ a Security
Crypto Twitter Gears Up for a Fight: SEC’s Gensler Dubs ‘Everything Except Bitcoin’ a Security
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- SEC Chair Gary Gensler reiterated that all crypto except bitcoin was security.
- This could severely impact the crypto industry. It could make it impossible for retail traders to buy crypto other than bitcoin.
- Crypto advocates believe the move could drive the crypto industry out of the US.
- Advocates are fighting the SEC, urging investors to pressure Congress to rein in the SEC.
Crypto advocates and enthusiasts are gearing up for a fight as the US Securities and Exchange Commission moves in to crack down on the industry.
The stakes are high. SEC’s crackdown could mean that retail investors in the US could not trade any crypto other than bitcoin.
On Thursday, SEC Chair Gary Gensler reiterated that he considers all digital assets except Bitcoin securities. Gensler’s remarks for the New…
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