“The crypto market is braced for details of a long-awaited crypto bill put together by a bipartisan group of U.S. senators,” our contributor Billy Bambrough writes. It’s expected to define which cryptocurrencies are securities and which are commodities.
cryptocurrencies, as fear swept through the market.."So it would fall under the CFTC for purposes of trading and the spot market and the futures market. And then when [a cryptocurrency] fits in the Howey Test [which uses four criteria to decide what qualifies as an investment contract] that makes it a security, it would fall under the SEC."
Last week, SEC chair Gary Gensler, who has previously pushed lawmakers for increased oversight of the fast-growing crypto market, signaled he agreed with Lummis, saying bitcoin"maybe" is"a commodity token."the House Appropriations Committee that the SEC has"jurisdiction over probably a vast number" of cryptocurrencies but not bitcoin, saying bitcoin would go"over there" to the CFTC.
"I think a lot of these tokens will fail,” Gensler said following the committee hearing, it was reported by the ."I fear that in crypto…there’s going to be a lot of people hurt, and that will undermine some of the confidence in markets and trust in markets."
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Crypto regulation high on the agenda for Australia’s new Prime MinisterMarket observers believe that the new Prime Minister of Australia, Anthony Albanese, should prioritize addressing climate change, the rising cost... Continue reading
Baca lebih lajut »
12% of US Adults Used Crypto in 2021: Federal ReserveIn recent survey, the US Fed found that 12% of American adults invested in cryptocurrencies last year
Baca lebih lajut »
WEF 2022: PayPal looks to embrace all possible crypto and blockchain servicesCould PayPal become a blockchain powerhouse? While at WEF22, vice president Richard Nash said the global payment giant is looking to bring all possible blockchain and cryptocurrency integrations to its services. (Reporting via coindanslecoin)
Baca lebih lajut »
GameStop now has its own wallet for crypto and NFTsGameStop’s new wallet is available as a browser extension.
Baca lebih lajut »
World Economic Forum is taken over by crypto firms promoting rapid adoptionDespite the cryptocurrency market undergoing a turbulent moment, enthusiasts of digital assets are dominating the 2022 World Economic Forum meeting... Continue reading
Baca lebih lajut »
Crypto remittances must have allure of cash without regulatory constraints — Jeremy AllaireWhen it comes to remittances, cash is still king. At WEF22, Circle CEO jerallaire says digital cash systems built on the blockchain must hold the qualities of physical money without regulatory restraints in order to attract more users.
Baca lebih lajut »