3min chapter

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Everyone Pivots to A.I. + Bad News for Crypto

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CHAPTER

Cryptocurrency and the SEC Chair Gary Gensler

Sally Kohn: Gary Gensler's central claim for the couple of years that he's been the SEC chair is that the vast majority of cryptocurrencies are securities like akin to shares traded on the stock market and that sort of thing. The crypto industry is very resistant to that; they have all sorts of legal arguments about why cryptocurrencies don't actually meet the standard for security, she says. Kohn: There's a belief that if every crypto instrument except for Bitcoin were sort of declared or treated as a security, that it would basically destroy everything that the crypto industry has spent the last decade building.

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