SEC’s Gensler Firmly Maintains Existing Laws Make Sense for Crypto
Satoshi Nakamoto wrote the white paper Halloween night in 2008 – a few years later people started investing in it, buying it and selling it. A few years later, we begin to see other coins, other tokens. And, you know, if you just look coinmarketcap.com, there are about 10,000 tokens listed here. Some have more cash than others, of course, and some are more valuable than others. But what does the investing public do? They invest for a better future, based on the efforts of others. The [are] the websites you visit, the average posts you read, there’s Crypto Twitter, there’s Reddit forums, and places you can search for information. And it’s about this joint venture and this entrepreneurial effort that is the hallmark of investment contracts, which are securities. So I think that’s where we are, that most tokens meet the traditional standards set by our Supreme Court, and that we, the SEC, have a role to play in helping to protect investors and instilling and strengthening confidence in these markets. But back to you, Nik.
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