Facebook Twitter Instagram
    Facebook Twitter Instagram
    ASNHubASNHub
    Submit PR & News Register
    • Home
    • All News
    • Contact
    • My account
    • Advertise with us
    ASNHubASNHub
    Submit PR & News
    You are at:Home » All News » SEC Chairman Piles Pressure on Altcoins, Says ‘Bitcoin Is the Only One I Am Willing To Say Commodity’
    Crypto

    SEC Chairman Piles Pressure on Altcoins, Says ‘Bitcoin Is the Only One I Am Willing To Say Commodity’

    For SEC Chairman Bitcoin is the only crypto that is a commodity.
    ASN HUBBy ASN HUBJune 27, 2022No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email Reddit Telegram WhatsApp
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Gary Gensler, the chairman of the Securities and Exchange Commission, has stated that Bitcoin (BTC) is the only cryptocurrency he considers outside the SEC’s regulatory purview.

    According to the SEC’s Chairman, the world’s largest cryptocurrency by market capitalization is the only digital currency believed to be a commodity, which is subject to be regulated by the Commodity Futures Trading Commission (CFTC).

    Gensler made this known during a CNBC interview earlier today. Following Gensler’s comment, it is obvious that the SEC views all other coins, including Ethereum (ETH), as digital currencies that fall under its regulatory oversight.

    “In many altcoins, the Public is hoping for a return just like in other financial assets we call securities, and many of these crypto assets have key attributes of security… Bitcoin is the only one I am going to say… it’s a commodity.”

    “#BITCOIN IS THE ONLY ONE I’M WILLING TO SAY IS A COMMODITY”

    > SEC CHAIRMAN @GARYGENSLER PIC.TWITTER.COM/QGLB0DALF8

    — DOCUMENTING BITCOIN 📄 (@DOCUMENTINGBTC) JUNE 27, 2022

    Since 2018, many crypto players have believed that ETH is also a commodity after William Hinman, the former director of the SEC’s Corporation Finance noted in his controversial speech that the second-largest cryptocurrency is a commodity.

    However, Gensler, who was not in charge of the SEC’s affairs at the time, does not seem to agree with Hinman’s classification of Ethereum, as he refused to add ETH to the list of cryptocurrencies that should be regulated by the CFTC.

    John Comments

    John Deaton representing the Ripple community in the Ripple Vs SEC lawsuit says “What have I and my 68K friends been saying all along. Every altcoin is in danger.”

    Other Cryptocurrencies in Trouble?

    Recall that the SEC charged Ripple and two of its executives, Brad Garlinghouse and Chris Larsen, in late 2020 for conducting an unregistered securities offering.

    The case has lingered for over a year, with some attorneys predicting that the lawsuit may end by March next year.

    With the SEC chairman considering only Bitcoin as a commodity, it is expected that other digital currencies may endure a similar fate as Ripple and it is only a matter of time before the Securities and Exchange Commission (SEC) slams a fresh lawsuit against these crypto projects.

    Disclaimer

    The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

    Lele Jima
    is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.
    altcoins bitcoin sec
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleShiba Inu Soars Above 40% In Seven Days As Unification Brings Shibarium Launch Closer
    Next Article MYLF Brings the Summer Party to Fans with Five Fun New Scenes
    ASN HUB
    • Website

    Related Posts

    Stephanie Eild’s Looking to Win Back to School Contest with School-Girl Themed Bentbox

    September 28, 2022

    Ripple Slams the SEC for Its Continued Redaction Requests Regarding Amici’s Participation in the Expert Challenge

    June 28, 2022

    Shiba Inu Soars Above 40% In Seven Days As Unification Brings Shibarium Launch Closer

    June 27, 2022

    Comments are closed.

    • Facebook
    • Twitter
    • Instagram
    Don't Miss

    Sweet Treat Tiana Blow Makes Her Dick Drainers Debut

    The Dungeon Store Provides Prizes for Fetish.Com’s Treasure Hunt

    Dean Capture Offers eGift Certs for Fans to Support Their Fave Adult Stars & Creators

    PDCams is Honestly The Best Cam Site Aggregator We Have Reviewed

    About
    About

    Your source for Adult Lifestyle News.
    ASN Hub gather all the info from Events to Releases, from Stars to Studios, From vanilla to BDSM, from missionary to swinging!

    Facebook Twitter Instagram
    Popular Posts

    Sweet Treat Tiana Blow Makes Her Dick Drainers Debut

    February 7, 2023

    The Dungeon Store Provides Prizes for Fetish.Com’s Treasure Hunt

    February 7, 2023

    Dean Capture Offers eGift Certs for Fans to Support Their Fave Adult Stars & Creators

    February 6, 2023
    Subscribe to Updates

    Get the latest creative news from ASN Hub

    Copyright © 2023. ASNHUB is part of ASN Entertainment, LLC - Powered by OutShineTeam
    • Home

    Type above and press Enter to search. Press Esc to cancel.