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Most cryptos are securities, SEC Chair says

In his testimony before the Senate Banking Committee, Gary Gensler, the head of the US Securities and Exchange Commission (SEC), said that many cryptocurrencies are...
Most cryptos are securities, SEC Chair says Most cryptos are securities, SEC Chair says

In his testimony before the Senate Banking Committee, Gary Gensler, the head of the US Securities and Exchange Commission (SEC), said that many cryptocurrencies are securities.

While responding to a question from Senator Pat Toomey about the security status of cryptocurrencies, Gensler opined that “very many” digital assets, including stablecoins, can be viewed as securities or investment contracts.

In July, the SEC Chair left clues suggesting that regulation may be coming to the stablecoin scenes. He reiterated his stance this month, noting that stablecoins may enable dubious users to “sidestep” public policy goals.

Toomey, a top Republican on the Senate committee, said it is not clear how the SEC applies the Howey and Reves tests (a standard test used to determine whether a product is a security or not). He referenced the concerns recently raised by Coinbase (NASDAQ:COIN) when the SEC threatened to sue it over a crypto lending product.

Why wait to make the SEC’s views known only when it swoops in with an enforcement action, in some cases, years after the product was launched? This is regulation by enforcement and it’s very objectionable, and I’m concerned it can stifle domestic innovation.
In his defense, Gensler stated that “Congress painted [with] a broad brush, and it actually included about 35 different things inside the definition of a security act.”

However, Toomey disagreed, noting that the definition is “well defined,” even though it is broad. He added that “we certainly shouldn’t be taking enforcement action against somebody without having first provided that clarity” about how cryptocurrencies classify as securities.

Senator Elizabeth Warren cited the crypto market dip last week and the successive downtime of Coinbase and asked if the SEC could do anything to help investors recover their money. Gensler said the SEC could not help since Coinbase is not registered with the regulatory body.

He further stated that cryptocurrencies are “a highly speculative asset class. [And] it doesn’t sound like the path” to financial inclusion as envisioned by crypto advocates. He suggested that crypto companies should register, seek an exemption, or seek a no-action letter and align with the SEC to ensure that they’re registered.

(I am) not negative or minimalist about crypto. I just think it would be best if it’s inside the investor protection regime that Congress laid out.
In closing, Gensler slammed the crypto industry for its lack of regulation, likening it to the ‘Wild West.’

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28-09-2021 05:54:09 (UTC+7)

EUR/USD

1.1695

+0.0001 (+0.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

EUR/USD

1.1695

+0.0001 (+0.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

GBP/USD

1.3700

+0.0006 (+0.04%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

USD/JPY

111.00

-0.01 (-0.00%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (0)

AUD/USD

0.7286

-0.0001 (-0.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

USD/CAD

1.2628

0.0001 (0.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

EUR/JPY

129.82

+0.04 (+0.03%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (1)

EUR/CHF

1.0828

+0.0005 (+0.05%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (5)

Gold Futures

1,751.05

+1.20 (+0.07%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (2)

Silver Futures

22.642

+0.005 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (3)

Sell (3)

Copper Futures

4.2765

-0.0032 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Crude Oil WTI Futures

75.36

-0.05 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Brent Oil Futures

78.62

+0.01 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (1)

Natural Gas Futures

5.922

+0.062 (+1.06%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (2)

US Coffee C Futures

194.98

+0.63 (+0.32%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (0)

Euro Stoxx 50

4,165.48

+6.97 (+0.17%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

S&P 500

4,443.11

-12.37 (-0.28%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (9)

DAX

15,573.88

+42.13 (+0.27%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

FTSE 100

7,063.40

+11.92 (+0.17%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

Hang Seng

24,208.78

+16.62 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,281.79

+33.71 (+1.50%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

IBEX 35

9,002.90

+129.80 (+1.46%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (2)

BASF SE NA O.N.

64.740

+1.040 (+1.63%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (5)

Bayer AG NA

47.47

+0.99 (+2.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Allianz SE VNA O.N.

196.19

+3.85 (+2.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

Adidas AG

278.80

-2.77 (-0.98%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

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Deutsche Lufthansa AG

6.561

+0.328 (+5.26%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (2)

Siemens AG Class N

147.27

-0.84 (-0.57%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (10)

Deutsche Bank AG

11.120

+0.285 (+2.63%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (3)

 EUR/USD1.1695↑ Sell
 GBP/USD1.3700↑ Sell
 USD/JPY111.00↑ Buy
 AUD/USD0.7286↑ Sell
 USD/CAD1.2628↑ Buy
 EUR/JPY129.82↑ Buy
 EUR/CHF1.0828↑ Sell
 Gold1,751.05Buy
 Silver22.642Neutral
 Copper4.2765↑ Sell
 Crude Oil WTI75.36↑ Sell
 Brent Oil78.62↑ Buy
 Natural Gas5.922↑ Buy
 US Coffee C194.98↑ Buy
 Euro Stoxx 504,165.48↑ Sell
 S&P 5004,443.11↑ Sell
 DAX15,573.88↑ Sell
 FTSE 1007,063.40↑ Sell
 Hang Seng24,208.78↑ Buy
 Small Cap 20002,281.79↑ Sell
 IBEX 359,002.90Buy
 BASF64.740↑ Sell
 Bayer47.47↑ Buy
 Allianz196.19↑ Buy
 Adidas278.80↑ Sell
 Lufthansa6.561↑ Buy
 Siemens AG147.27↑ Sell
 Deutsche Bank AG11.120↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,665/ 5,715
(0/ 0) # 900
SJC HCM5,635/ 5,700
(0/ 0) # 885
SJC Hanoi5,635/ 5,702
(0/ 0) # 887
SJC Danang5,635/ 5,702
(0/ 0) # 887
SJC Nhatrang5,635/ 5,702
(0/ 0) # 887
SJC Cantho5,635/ 5,702
(0/ 0) # 887
Cập nhật 28-09-2021 05:54:11
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ↀ Giá vàng thế giới
$1,751.17+1.680.10%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2204022480
RON 95-II,III2194022370
E5 RON 92-II2071021120
DO 0.05S1658016910
DO 0,001S-V1693017260
Dầu hỏa1564015950
ↂ Giá dầu thô thế giới
WTI$75.22-0.52-0.70%
Brent$78.60-0.59-0.76%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.630,0022.860,00
EUR25.993,7727.346,60
GBP30.324,2231.591,18
JPY200,45212,05
KRW16,7520,39
Cập nhật lúc 18:54:42 27/09/2021
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