SEC Chair Gensler Rebuts Claims Crypto Exchanges Lacked ‘Fair Notice,’ Affirms ‘Majority’ of Tokens Are Securities
U.S. Securities and Exchange Commission Chair Gary Gensler discussed crypto exchanges and digital currencies at the Piper Sandler Global Exchange & Fintech Conference. He insisted that there is “nothing about the crypto securities markets that suggests that investors and issuers are less deserving of the protections of our securities laws.” Gensler reasserted his belief that “the vast majority of crypto tokens meet the investment contract test.” Gensler Dismisses Claim of Exchanges and Crypto Token Issuers Lacking Fair Notice — ‘Don’t Believe It’ Gary Gensler , the current chair of the U.S. Securities and Exchange Commission (SEC), discussed digital currencies at the Piper Sandler Global Exchange & Fintech Conference in New York. Gensler pointed out that some promoters of crypto asset securities claim that their token’s utility exempts it from being classified as an investment contract. However, the SEC chair rejects this argument and insists that “crypto security issuers n