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Most cryptos are securities, SEC Chair says

In his testimony before the Senate Banking Committee, Gary Gensler, the head of the US Securities and Exchange Commission (SEC), said that many cryptocurrencies are...
Most cryptos are securities, SEC Chair says Most cryptos are securities, SEC Chair says

In his testimony before the Senate Banking Committee, Gary Gensler, the head of the US Securities and Exchange Commission (SEC), said that many cryptocurrencies are securities.

While responding to a question from Senator Pat Toomey about the security status of cryptocurrencies, Gensler opined that “very many” digital assets, including stablecoins, can be viewed as securities or investment contracts.

In July, the SEC Chair left clues suggesting that regulation may be coming to the stablecoin scenes. He reiterated his stance this month, noting that stablecoins may enable dubious users to “sidestep” public policy goals.

Toomey, a top Republican on the Senate committee, said it is not clear how the SEC applies the Howey and Reves tests (a standard test used to determine whether a product is a security or not). He referenced the concerns recently raised by Coinbase (NASDAQ:COIN) when the SEC threatened to sue it over a crypto lending product.

Why wait to make the SEC’s views known only when it swoops in with an enforcement action, in some cases, years after the product was launched? This is regulation by enforcement and it’s very objectionable, and I’m concerned it can stifle domestic innovation.
In his defense, Gensler stated that “Congress painted [with] a broad brush, and it actually included about 35 different things inside the definition of a security act.”

However, Toomey disagreed, noting that the definition is “well defined,” even though it is broad. He added that “we certainly shouldn’t be taking enforcement action against somebody without having first provided that clarity” about how cryptocurrencies classify as securities.

Senator Elizabeth Warren cited the crypto market dip last week and the successive downtime of Coinbase and asked if the SEC could do anything to help investors recover their money. Gensler said the SEC could not help since Coinbase is not registered with the regulatory body.

He further stated that cryptocurrencies are “a highly speculative asset class. [And] it doesn’t sound like the path” to financial inclusion as envisioned by crypto advocates. He suggested that crypto companies should register, seek an exemption, or seek a no-action letter and align with the SEC to ensure that they’re registered.

(I am) not negative or minimalist about crypto. I just think it would be best if it’s inside the investor protection regime that Congress laid out.
In closing, Gensler slammed the crypto industry for its lack of regulation, likening it to the ‘Wild West.’

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21-09-2021 06:12:13 (UTC+7)

EUR/USD

1.1727

+0.0002 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (9)

EUR/USD

1.1727

+0.0002 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (9)

GBP/USD

1.3659

+0.0003 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (8)

USD/JPY

109.38

-0.01 (-0.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

AUD/USD

0.7256

+0.0006 (+0.08%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

USD/CAD

1.2814

-0.0011 (-0.09%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (1)

EUR/JPY

128.26

0.00 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

EUR/CHF

1.0879

+0.0003 (+0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Gold Futures

1,765.00

+1.20 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (1)

Silver Futures

22.258

+0.054 (+0.24%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (4)

Copper Futures

4.1297

+0.0047 (+0.11%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (10)

Crude Oil WTI Futures

70.47

+0.33 (+0.47%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (10)

Brent Oil Futures

74.24

+0.18 (+0.24%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

Natural Gas Futures

4.941

-0.016 (-0.32%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (6)

Sell (1)

US Coffee C Futures

182.30

-4.10 (-2.20%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Euro Stoxx 50

4,043.63

-87.21 (-2.11%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (8)

S&P 500

4,357.73

-75.26 (-1.70%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (1)

DAX

15,132.06

-358.11 (-2.31%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (3)

Sell (2)

FTSE 100

6,903.91

-59.73 (-0.86%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (3)

Hang Seng

24,099.14

-821.62 (-3.30%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,178.78

-58.09 (-2.60%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (1)

IBEX 35

8,655.40

-105.50 (-1.20%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

BASF SE NA O.N.

61.660

-1.425 (-2.26%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Bayer AG NA

45.23

+0.16 (+0.36%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (10)

Allianz SE VNA O.N.

183.86

-6.37 (-3.35%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (4)

Adidas AG

280.52

-1.08 (-0.38%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (2)

Sell (6)

Deutsche Lufthansa AG

8.664

+0.454 (+5.53%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (3)

Siemens AG Class N

142.26

-6.50 (-4.37%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (5)

Deutsche Bank AG

10.230

-0.850 (-7.67%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

 EUR/USD1.1727↑ Sell
 GBP/USD1.3659↑ Sell
 USD/JPY109.38↑ Sell
 AUD/USD0.7256↑ Sell
 USD/CAD1.2814↑ Buy
 EUR/JPY128.26↑ Sell
 EUR/CHF1.0879↑ Sell
 Gold1,765.00↑ Buy
 Silver22.258Neutral
 Copper4.1297Sell
 Crude Oil WTI70.47↑ Sell
 Brent Oil74.24↑ Buy
 Natural Gas4.941Neutral
 US Coffee C182.30↑ Sell
 Euro Stoxx 504,043.63↑ Sell
 S&P 5004,357.73↑ Buy
 DAX15,132.06↑ Buy
 FTSE 1006,903.91Neutral
 Hang Seng24,099.14↑ Buy
 Small Cap 20002,178.78↑ Buy
 IBEX 358,655.40↑ Sell
 BASF61.660↑ Buy
 Bayer45.23↑ Sell
 Allianz183.86↑ Buy
 Adidas280.52Neutral
 Lufthansa8.664Neutral
 Siemens AG142.26Sell
 Deutsche Bank AG10.230↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,650/ 5,700
(0/ 0) # 856
SJC HCM5,615/ 5,680
(0/ 0) # 836
SJC Hanoi5,615/ 5,682
(0/ 0) # 838
SJC Danang5,615/ 5,682
(0/ 0) # 838
SJC Nhatrang5,615/ 5,682
(0/ 0) # 838
SJC Cantho5,615/ 5,682
(0/ 0) # 838
Cập nhật 21-09-2021 06:12:16
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E5 RON 92-II2014020540
DO 0.05S1602016340
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Dầu hỏa1508015380
ↂ Giá dầu thô thế giới
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Brent$74.14+0.560.75%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.645,0022.875,00
EUR25.997,5927.350,60
GBP30.426,3531.697,56
JPY202,06213,76
KRW16,5320,13
Cập nhật lúc 06:06:57 21/09/2021
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