Committee Advises SEC to ‘Aggressively Assert Authority’ Over Crypto — Says Virtually All Crypto Tokens Are Securities
The U.S. Securities and Exchange Commission’s Investor Advisory Committee has advised the SEC to “aggressively” assert authority over crypto assets that are securities. The advisory committee believes that “virtually all, if not all, crypto tokens are securities,” urging the regulator to “make crypto asset-related enforcement a top priority.” SEC Urged to ‘Aggressively’ Assert Authority Over Crypto Securities The U.S. Securities and Exchange Commission (SEC) Investor Advisory Committee (IAC) submitted its view on the regulation of crypto assets to the SEC on Thursday. The committee was established under Section 911 of the Dodd-Frank Act to advise the securities watchdog on regulatory priorities. In their letter to SEC Chairman Gary Gensler, IAC Chair Christopher Mirabile and Vice Chair Leslie Van Buskirk explained that they are submitting the view articulated “as a consensus of the IAC members.” They wrote: We believe that virtually all, if not all, crypto tokens are securities a...