{"id":154400,"date":"2023-09-12T19:28:47","date_gmt":"2023-09-12T13:58:47","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=154400"},"modified":"2023-09-12T19:28:47","modified_gmt":"2023-09-12T13:58:47","slug":"bitcoin-to-rally-during-us-sec-chair-gary-genslers-hearing-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-to-rally-during-us-sec-chair-gary-genslers-hearing-crypto-news\/","title":{"rendered":"Bitcoin To Rally During US SEC Chair Gary Gensler’s Hearing? – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is set to testify at a Congressional hearing on Tuesday, September 12, 2023, regarding the oversight of the SEC before the Senate Committee on Banking, Housing, and Urban Affairs. In his pre-hearing testimony, the SEC Chair maintained his same old stance that investors in the crypto market<\/a> deserve to get the protections of the US securities laws.<\/p>\n

Also Read: Bitcoin Can Quickly Rally To $70000 After Fed Decision, Says BitMEX Arthur Hayes<\/strong><\/a><\/p>\n

<\/p>\n

Gary Gensler Maintains Crypto Tokens As Securities Stance<\/h2>\n

In his testimony, the SEC official maintained<\/a> that a majority of crypto tokens likely meet the investment contract test, which means they should be treated as securities. Surprisingly, Gensler is continuing to continue the securities law superimposition despite the SEC\u2019s recent loss in the XRP lawsuit, in which the judge denied the agency\u2019s argument that retail sale of tokens are securities transactions.<\/p>\n

\n

\u201cGiven that most crypto tokens are subject to the securities laws, it follows that most crypto intermediaries have to comply with securities laws as well. Given this industry\u2019s wide-ranging non-compliance with the securities laws, it\u2019s not surprising that we\u2019ve seen many problems in these markets.\u201d<\/p>\n<\/blockquote>\n

<\/p>\n

The US Senate Committee\u2019s full committee hearing<\/a> on the Oversight of the U.S. SEC can be viewed live on the senate panel\u2019s website. Meanwhile, it remains to be seen if the crypto market, and especially the Bitcoin pric<\/a>e would show any particular reaction to Gensler\u2019s comments.<\/p>\n

<\/p>\n

Enforcement Actions<\/h2>\n

In sharp contrast to the larger investor sentiment and the rising consensus among US lawmakers, Gensler had also noted that the agency introduced \u201cA number of enforcement actions (against crypto businesses), some settled, and some in litigation, to hold wrongdoers accountable and promote investor protection.\u201d Among the most notable ones in the recent times are the back to back lawsuits filed against two of the largest crypto exchanges in the world, Binance and Coinbase<\/a>.<\/p>\n

Also Read: ETH Price Rollercoaster Dips Sweep March Levels, Will Ethereum Crash To $1,000?<\/strong><\/a><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1,200 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or twitter.com\/BitcoinReddy or linkedin.com\/in\/anveshreddybtc\/ <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"<\/div>\n
Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"will_cramer_curse_strike_again_720\"\"will_cramer_curse_strike_again_720\"<\/div>\n
Will Cramer Curse Strike Again? <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"<\/div>\n
Mercedes Benz To Release NFT Collection With Fingerprints DAO <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is set to testify at a Congressional hearing on Tuesday, September 12, 2023, regarding the oversight of the SEC before the Senate Committee on Banking, Housing, and Urban Affairs. In his pre-hearing testimony, the SEC Chair maintained his same old stance that investors in the crypto […]<\/p>\n","protected":false},"author":2,"featured_media":154401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-154400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=154400"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154400\/revisions"}],"predecessor-version":[{"id":154406,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154400\/revisions\/154406"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/154401"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=154400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=154400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=154400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}