H3RO3S TV brings you the latest news
Gensler had a much clearer view on which crypto tokens were considered securities and which ones weren’t. He had previously stated several times that Bitcoin, Ethereum, Litecoin, and Bitcoin Cash were unlikely to cross the threshold, whereas tokens released through initial coin offerings (ICOs) did.
This distinction is intricate and at the core of numerous legal disputes involving major names in crypto, including Ripple and Coinbase. If a token is determined to be a security, it would fall under stricter regulatory scrutiny and under the jurisdiction of the SEC.
In a corporate crypto conference organized at Bloomberg’s headquarters in 2018, Gensler expressed that over 70% of the crypto market was made up of Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. He argued that these four were not securities and, likely, neither were three-quarters of the market.
He repeated these comments in his crypto course, Blockchain and Money, at the Massachusetts Institute of Technology the same year.
Therefore, he claimed, we already know that three-quarters of the market aren’t ICOs and will not be termed securities, even in jurisdictions like the U.S., Canada, and Taiwan.
Source : CoinTurk News
#EveryoneDeservesToFly
