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Gensler’s Latest Take on Crypto and Securities Rules

The Breakdown

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The SEC's Refusal to Customize the Security's Law for Cryptocurrencies

The Wall Street Journal reported Gary Gensler supports CFTC having oversight of Bitcoin and Ether. There's no mention of ETH except in reference to the DCCPA, a bill he hasn't expressly supported. The SEC could have and should have long ago created a custom reporting regime for token issuers but has steadfastly refused to do so. It is a fantasy that small software teams with no revenue generating business can afford to become full-blown exchange act reporters,. A regime costing millions per year. Only the bluest of blue chip revenue generating corporations can afford this. This won't be compliance, it will be extinction.

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