SEC claiming over Cryptos

[Yugocean]

United States SEC Chairman Gary Gensler claims thatm ost cryptocurrencies are securities as per law. Gary Gensler is trying to stop CFTC from claiming cryptos as Commodity, he didn't gave any clear definition.

 

[Starmix]

In my country, crypto is being the talk of the wealthy personalities like Manny Villar, Lucio Tan and even Manny Pacquiao.

 

[Yugocean]

Here people use without any talk, everyone is silent, but use it.

 

[Starmix]

They talked about it to influence others. There are also ordinary people who want to do business with crypto but only waiting for an endorsement.

 

[hastral45]

I wonder why there are always discrepancy between SEC and other govt financial authorities. In Nigeria, CNN outlaw the use of crypto while SEC sees it as a potential monetary commodity.

 

[Yugocean]

All country have their own choice, even in Nigeria, people are using crypto, nobody cares stupid law

 

[Knowledge Quest]

I agree with Gary Gensler that most cryptocurrencies are securities as per law. I think that the CFTC should not be claiming cryptos as commodities because they are not regulated like other commodities. Cryptocurrencies are a new asset class and should be regulated as such.

 

[Golden9]

This is an interesting move from the SEC. It will not be easy to take down the entire cryptocurrency market like they did to XRP. The exact reason Bitcoin was created was so that people could be free of the manipulation that comes with commodities.

 

[Yugocean]

I agree with Gary Gensler that most cryptocurrencies are securities as per law. I think that the CFTC should not be claiming cryptos as commodities because they are not regulated like other commodities. Cryptocurrencies are a new asset class and should be regulated as such.

SEC is still losing, and CFTC is also a government agency, yet both are independent. Court rule will decide on them.

 

[Enxx]

Here people use without any talk, everyone is silent, but use it.

Even if it is banned in some country, people there can still not do without using cryptocurrency

 

[Passiveearner]

Even if it is banned in some country, people there can still not do without using cryptocurrency

I think that that cryptocurrencies are not owned by any country, they are merely considered as an asset by many countries that are not backed up by the government at all.

 

[iyanpol12]

I saw a meme that SBF is related graduated from MIT, and Gary Gensler is a former professor there. Alameda CEO Caroline Ellison's father is the former boss of Gary Gensler, and also a former professor on MIT.

 

[Niyi Briggs]

And these useless utterances would now influence the prices of crypto to me moving up and down. I hope it doesn't.

 

[Enxx]

I think that that cryptocurrencies are not owned by any country, they are merely considered as an asset by many countries that are not backed up by the government at all.

No it is not own or regulate by any country or government. That is why most of them are against it.

 

[iyanpol12]

No it is not own or regulate by any country or government. That is why most of them are against it.

Yeah. Hence they call it "decentralized".

 

[Passiveearner]

And these useless utterances would now influence the prices of crypto to me moving up and down. I hope it doesn't.

Well, SEC does not really care if you lose money after you invest cash in cryptocurrencies. The fact of the matter remains that they are making sure that they create regulations that could benefit the government.

 

[nomad]

In our country, cryptos are illegal. However, the central bank is doing a feasibility study of CBDC.

 

[Yugocean]

In our country, cryptos are illegal. However, the central bank is doing a feasibility study of CBDC.

In ours, crypto are not legal, but still taxed because it's not illegal.

 

[nomad]

In ours, crypto are not legal, but still taxed because it's not illegal.

That's confusing. If cryptos are not legal, how could the government tax crypto? If taxed, it should be legal.

 

[Enxx]

In our country, cryptos are illegal. However, the central bank is doing a feasibility study of CBDC.

I think all country are trying to replace cryptocurrency with CBDC