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Top Lawyer Takes on Gensler Over Cryptos
The post Top Lawyer Takes on Gensler Over Cryptos appeared on BitcoinEthereumNews.com. Cover image via youtu.be Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Following United States Securities and Exchange Commission (SEC) Chairman Gary Gensler’s recent comments on cryptocurrencies, Coinbase’s Chief Legal Officer Paul Grewal has reacted, disputing the SEC chair’s stance. In a recent interview, Gensler noted that the agency is simply a “cop on the beat” when it comes to policing the cryptocurrency business. The SEC chairman talked on CNBC a day after Robinhood revealed that it had gotten a Wells notice from the U.S. securities regulator. Gensler stated that the cryptocurrency industry consists of a variety of digital assets that qualify as securities “under the law of the land, as interpreted” by the Supreme Court. This statement by the SEC chair has been a point of contention, since it signals a more stringent regulatory approach to cryptocurrencies, potentially subjecting them to the same laws and regulations that control regular stocks. Grewal questions SEC Chairman Gary Gensler’s position on digital assets. The contention is around the classification of cryptocurrencies, an important question with serious implications for the industry’s future. “Many of those tokens are securities under the law of the land, as interpreted by the US Supreme Court. So we follow that law.” Please stop misleading the market—tokens are NOT securities. Their pleadings notwithstanding , your own attorneys have admitted this in court. https://t.co/Ti4Xtpe67s — paulgrewal.eth (@iampaulgrewal) May 7,…
The post Top Lawyer Takes on Gensler Over Cryptos appeared on BitcoinEthereumNews.com.
Cover image via youtu.be Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Following United States Securities and Exchange Commission (SEC) Chairman Gary Gensler’s recent comments on cryptocurrencies, Coinbase’s Chief Legal Officer Paul Grewal has reacted, disputing the SEC chair’s stance. In a recent interview, Gensler noted that the agency is simply a “cop on the beat” when it comes to policing the cryptocurrency business. The SEC chairman talked on CNBC a day after Robinhood revealed that it had gotten a Wells notice from the U.S. securities regulator. Gensler stated that the cryptocurrency industry consists of a variety of digital assets that qualify as securities “under the law of the land, as interpreted” by the Supreme Court. This statement by the SEC chair has been a point of contention, since it signals a more stringent regulatory approach to cryptocurrencies, potentially subjecting them to the same laws and regulations that control regular stocks. Grewal questions SEC Chairman Gary Gensler’s position on digital assets. The contention is around the classification of cryptocurrencies, an important question with serious implications for the industry’s future. “Many of those tokens are securities under the law of the land, as interpreted by the US Supreme Court. So we follow that law.” Please stop misleading the market—tokens are NOT securities. Their pleadings notwithstanding , your own attorneys have admitted this in court. https://t.co/Ti4Xtpe67s — paulgrewal.eth (@iampaulgrewal) May 7,…
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