Cryptocurrency

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/us-attorney-general-files-charges-against-cryptocurrency-manipulation/" data-wpel-link="internal">US Attorney General Files Charges Against Cryptocurrency Manipulation</a> 
Cryptocurrencies continue to face turbulent times as the US Department of Justice has filed charges against 18 individuals and companies for manipulation. The Bitfinex exchange is involved in billions of dollars in claims, and the Federal Reserve’s minutes indicate cautious easing warnings. We can briefly review the recent dizzying headlines, including questions posed to <a href="https://en.coin-turk.com/investors-anticipate-crypto-market-growth-with-ftx-refunds/" data-wpel-link="internal">SEC</a> Chairman Gensler today. 
<h2 style="text-align: justify" id="sec-chairman-and-cryptocurrency-inquiry">SEC Chairman and Cryptocurrency Inquiry</h2> 
On October 9, the SEC Chairman met with law students. During a discussion at NYU’s Institute for Corporate Governance and Finance with former SEC Democratic Commissioner Robert Jackson Jr., Gensler was questioned about rules that have been in effect for over 80 years, including those pertinent to <a href="https://en.coin-turk.com/vitalik-buterin-advocates-for-usdc-use-on-ethereum-over-centralized-exchanges/" data-wpel-link="internal">cryptocurrency</a>. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-395843 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/10/sec.jpg" alt="" width="1039" height="346"> 
The SEC relies on the Howey test from a 1946 US Supreme Court ruling to determine whether an asset qualifies as an investment contract or a security. Gensler was asked, 
<blockquote> 
 “Should we regulate cryptocurrency by applying a Supreme Court ruling from the 1940s?” 
</blockquote> 
Gensler responded, 
<blockquote> 
 “This is our country’s law, and I swore to enforce it, but it also protects investors. At the core of securities law is a fundamental concept – you all decide what you want to invest in.” 
</blockquote> 
<h2 style="text-align: justify" id="cryptocurrency-stars-in-jail">Cryptocurrency Stars in Jail</h2> 
For years, Gensler and his team have been urging cryptocurrency companies to register with the agency. However, due to a lack of necessary guidance, companies remain uncertain about how to proceed. The SEC requests that they hire lawyers, but even lawyers are unsure of the process because there is no clear regulatory framework for cryptocurrency companies, and the only way to comply is often to refrain from engaging in cryptocurrency business. 
In response to all these criticisms, the SEC Chairman stated, 
<blockquote> 
 “I sincerely say that prominent figures in this field are either in prison or awaiting extradition. Just because people dislike the law doesn’t mean there isn’t a law. It’s unlikely these things will be a currency. They need to demonstrate their value (by generating utility) through exposure and use.” 
</blockquote> 
The post <a href="https://en.coin-turk.com/us-attorney-general-files-charges-against-cryptocurrency-manipulation/" data-wpel-link="internal">US Attorney General Files Charges Against Cryptocurrency Manipulation</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

US Attorney General Files Charges Against Cryptocurrency Manipulation

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