Altcoin News by Thebittimes.Com

Also Read: Bitcoin Can Quickly Rally To $70000 After Fed Decision, Says BitMEX Arthur Hayes advertisement Gary Gensler Maintains Crypto Tokens As Securities Stance In his testimony, the SEC official maintained that a majority of crypto tokens likely meet the investment contract test, which means they should be treated as securities. Surprisingly, Gensler is continuing to continue the securities law superimposition despite the SEC’s recent loss in the XRP lawsuit, in which the judge denied the agency’s argument that retail sale of tokens are securities transactions. “Given that most crypto tokens are subject to the securities laws, it follows that most crypto intermediaries have to comply with securities laws as well. Given this industry’s wide-ranging non-compliance with the securities laws, it’s not surprising that we’ve seen many problems in these markets.” The US Senate Committee’s full committee hearing on th...

John E. Deaton, the lawyer who played a prominent role in the Ripple Case, is very active on X (Twitter) and is not afraid to speak his mind. He has openly criticized the SEC, Gary Gensler, and other anti-crypto entities, including a number of politicians. Deaton recently scoped in on the former SEC Chairman, saying, “I will never let Jay Clayton off the hook.” advertisement Also Read: Bitcoin ETF “Approval Is Inevitable” Ex-US SEC Chair Jay Clayton John Deaton Unleashes A Flurry! Right off the bat, John Deaton cited Rolling Stone Magazine’s coverage of John Clayton’s election as the SEC Chair. The Rolling Stone coverage from 2017 called Clayton “the Most Conflicted SEC Chair Ever.” Then-U.S. President Donald Trump nominated Clayton.  In his  post , Deaton also mentioned the link between CSC and Jay Clayton; another controversial topic heavily reported during Clayton’s election as the SEC Chair....

Also Read: Biden Administration Under Pressure To Implement Crypto Rules: WSJ advertisement Also, the Committee Chair James Comer said in a letter that the US SEC’s hirings of division heads in long term positions appear to undermine the IPA. Thus allegation comes after the recent questioning of the US SEC Chair Gary Gensler by the Financial Services Committee. What About SEC’s Crypto Unit? Under the SEC’s Division of Enforcement, the Crypto Assets and Cyber Unit is responsible for protecting investors in Crypto Market s and from cyber-related threats. In recent times, the agency focused on increasing the manpower in the crypto unit, amid heightened enforcement actions against the businesses like Binance and Coinbase.  In May 2022, the SEC allocated 20 additional positions to the unit, in an effort to boost the enforcement actions. However, the latest letter addressed to Gensler by Chair Comer did not mention employees in the enforcement di...