SEC Chairman: Existing Securities Laws "Cover Most Activities in Crypto Markets"

March 30 news, according to The Block, after the House Appropriations Committee hearing on Wednesday, the US Securities and Exchange Commission (SEC) Chairman Gary Gensler stated that the existing securities laws "cover most of the activities carried out in the encryption market." It should be up to the SEC and the courts to define what constitutes a security, not the choice of individual crypto exchanges. Gensler reiterated that most cryptocurrencies are securities and that foreign entities selling cryptocurrencies to U.S. investors need to comply with securities laws. "Many legislative tools, if adopted, would undermine the remit of securities regulation," he added. Gensler declined to answer when asked if the SEC planned to file a lawsuit against Binance, but said the agency has filed lawsuits against other exchanges.

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