{"id":10639,"date":"2023-02-28T14:57:04","date_gmt":"2023-02-28T14:57:04","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=10639"},"modified":"2023-02-28T14:57:05","modified_gmt":"2023-02-28T14:57:05","slug":"sec-chairman-explains-why-he-views-all-crypto-tokens-other-than-bitcoin-as-securities","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=10639","title":{"rendered":"SEC Chairman Explains Why He Views All Crypto Tokens Other Than Bitcoin as Securities"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has detailed why he considers all crypto tokens other than bitcoin as securities. While acknowledging that crypto tokens may have different setups, he stressed that \u201cat the core, these tokens are securities.\u201d<\/strong><\/p>\n<h2>SEC Chair Believes All Crypto Tokens Other Than Bitcoin Are Securities<\/h2>\n<p>The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, explained why he believes all crypto tokens other than bitcoin are securities in an interview published Thursday by New York Magazine\u2019s Intelligencer.<\/p>\n<p>Gensler believes that the securities watchdog has all of the legal tools needed to oversee the crypto sector, the publication conveyed, adding that the SEC boss explained that pretty much every sort of crypto transaction already falls under the SEC\u2019s jurisdiction except spot transactions in bitcoin itself and the actual purchase or sale of goods or services with cryptocurrencies.<\/p>\n<p>The SEC chairman was quoted as saying:<\/p>\n<p>Everything other than bitcoin \u2026 you can find a website, you can find a group of entrepreneurs, they might set up their legal entities in a tax haven offshore, they might have a foundation, they might lawyer it up to try to arbitrage and make it hard jurisdictionally or so forth.<\/p>\n<p>\u201cThey might drop their tokens overseas at first and contend or pretend that it\u2019s going to take six months before they come back to the U.S.,\u201d Gensler continued, without naming specific cryptocurrencies. He emphasized:<\/p>\n<p>But at the core, these tokens are securities because there\u2019s a group in the middle and the public is anticipating profits based on that group.<\/p>\n<p>Following Gensler\u2019s claim that all crypto tokens other than BTC are securities, a number of people took to social media to disagree with the SEC chief. Lawyer Jake Chervinsky tweeted:<\/p>\n<p>Chair Gensler may have prejudged that every digital asset aside from bitcoin is a security, but his opinion is not the law.<\/p>\n<p>\u201cThe SEC lacks authority to regulate any of them until and unless it proves its case in court,\u201d Chervinsky emphasized, adding that this must be done \u201cFor each asset, every single one, individually, one at a time.\u201d Logan Bolinger, another lawyer, similarly said on Twitter: \u201cIn this country, judges \u2014 not SEC chairs \u2014 ultimately determine what the law means and how it applies. Doesn\u2019t mean his thoughts are irrelevant. They\u2019re just not dispositive.\u201d<\/p>\n<p><em><strong>What do you think about SEC Chairman Gary Gensler viewing all crypto tokens other than bitcoin as securities? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/sec-chairman-explains-why-he-views-all-crypto-tokens-other-than-bitcoin-as-securities\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has detailed why he considers all crypto tokens other than bitcoin as securities. While acknowledging that crypto tokens may have different setups, he stressed that \u201cat the core, these tokens are securities.\u201d SEC Chair Believes All Crypto Tokens Other Than Bitcoin Are Securities The chairman of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10640,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-10639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/10639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10639"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/10639\/revisions"}],"predecessor-version":[{"id":10641,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/10639\/revisions\/10641"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/10640"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}