SEC says the majority of crypto tokens are likely securities

SEC chair, Gary Gensler says the vast majority of crypto tokens on the market are likely securities.

At a virtual conference in Washington today, Gary Gensler stated, “Of the nearly 10,000 tokens in the crypto market, I believe the vast majority are securities,” Gensler said, reiterating the SEC’s stance that most digital currencies are unregistered securities.

Gensler went on to say that, “Some tokens may not meet the definition of securities, what I’ll call non-security tokens,” that are, “small in number, but maybe significant in value.” So far U.S. regulators have only determined Bitcoin and Ether to be clear non-securities among cryptocurrencies.

Source: Kryptolet