Ether, Ripple May Be Securities, Former CFTC Head Gensler Says By Bloomberg

© Reuters. Ether, Ripple May Be Securities, Former CFTC Head Gensler Says

(Bloomberg) — Gary Gensler, the former chairman of the Commodity Futures Trading Commission, said that the cryptocurrencies Ether and could probably be classified as securities, subjecting them to greater regulatory scrutiny.

, and probably wouldn’t be classified as securities, which are regulated in the U.S. by the Securities and Exchange Commission, Gensler, who is now a senior lecturer at the Massachusetts Institute of Technology, said during a blockchain conference at MIT on Monday. The CFTC has called Bitcoin a commodity.

Ether and Ripple are like securities in that a common enterprise is behind the assets, Gensler said. For Ripple it’s Ripple Labs, for Ether it’s the Foundation.

If the SEC decides that any of the cryptocurrencies are securities, then they’ll probably end up in court, Gensler said. The SEC could decide in nine months to a year, or 2 to 5 years at the longest, he said.

Most initial coin offerings are both tokens and securities, Gensler said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Related Posts

Add Comment