{"id":11425,"date":"2023-04-11T10:55:12","date_gmt":"2023-04-11T10:55:12","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=11425"},"modified":"2023-04-11T10:55:13","modified_gmt":"2023-04-11T10:55:13","slug":"committee-advises-sec-to-aggressively-assert-authority-over-crypto-says-virtually-all-crypto-tokens-are-securities","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=11425","title":{"rendered":"Committee Advises SEC to &#8216;Aggressively Assert Authority&#8217; Over Crypto \u2014 Says Virtually All Crypto Tokens Are 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>The U.S. Securities and Exchange Commission\u2019s Investor Advisory Committee has advised the SEC to \u201caggressively\u201d assert authority over crypto assets that are securities. The advisory committee believes that \u201cvirtually all, if not all, crypto tokens are securities,\u201d urging the regulator to \u201cmake crypto asset-related enforcement a top priority.\u201d<\/strong><\/p>\n<h2>SEC Urged to \u2018Aggressively\u2019 Assert Authority Over Crypto Securities<\/h2>\n<p>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.<\/p>\n<p>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 \u201cas a consensus of the IAC members.\u201d They wrote:<\/p>\n<p>We believe that virtually all, if not all, crypto tokens are securities and that they, as well as the platforms and custodians dealing with them, are subject to regulation under the federal securities laws to protect investors.<\/p>\n<p>Gensler also believes that all crypto tokens, other than bitcoin, are securities. He has repeatedly urged crypto trading and lending platforms to come in and register with the SEC.<\/p>\n<p>\u201cMany investors recently have suffered significant losses as a result of their investments in crypto assets. It is estimated that these losses have been more than $2 trillion,\u201d the IAC letter details.<\/p>\n<p>The committee further pointed out that numerous well-known cryptocurrency companies have either filed for bankruptcy or are on the verge of doing so, while others have faced both civil and criminal charges. The letter adds that crypto assets \u201chave also been subject to notable levels of fraud and abuse\u201d and \u201cthe semi-anonymous and borderless nature of crypto transactions make them well-suited for various illegal activities such as money laundering and tax evasion.\u201d<\/p>\n<p>Calling on the SEC to \u201cAggressively continue to assert authority over crypto assets that are securities\u201d and \u201cmake crypto asset-related enforcement a top priority,\u201d the IAC wrote:<\/p>\n<p>The SEC should continue to be aggressive in bringing enforcement actions against companies that are violating the federal securities laws in the crypto space, including, issuers, custodians and those acting as unregistered platforms that offer trading in crypto asset investments.<\/p>\n<p>In addition, the IAC advised the SEC to \u201cSeek appropriate additional appropriations from Congress where needed to adequately oversee the crypto securities industry.\u201d<\/p>\n<p>Lastly, the advisory committee urged the SEC to continue to provide guidance on crypto assets, noting that the regulator should educate investors on crypto risks and conduct examinations of broker-dealers and investment advisors to ensure proper standards of care.<\/p>\n<p><em><strong>What do you think about the SEC Investor Advisory Committee urging the securities regulator to \u201caggressively\u201d assert authority over \u201cvirtually all\u201d crypto tokens? 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\/committee-advises-sec-to-aggressively-assert-authority-over-crypto-says-virtually-all-crypto-tokens-are-securities\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission\u2019s Investor Advisory Committee has advised the SEC to \u201caggressively\u201d assert authority over crypto assets that are securities. The advisory committee believes that \u201cvirtually all, if not all, crypto tokens are securities,\u201d urging the regulator to \u201cmake crypto asset-related enforcement a top priority.\u201d SEC Urged to \u2018Aggressively\u2019 Assert Authority Over [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-11425","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\/11425","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=11425"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11425\/revisions"}],"predecessor-version":[{"id":11427,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11425\/revisions\/11427"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/11426"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}