Since Gary Gensler became Chair of the U.S. Securities and Exchange Commission in 2021, he has consistently dismissed suggestions that it is unclear how the U.S. Supreme Court’s decision SEC v. W.J. Howey Co., 328 U.S. 293 (1946) applies to cryptocurrency tokens. Instead, he has asserted that it is clear under Howey, an 80-year-old decision concerning orange groves, that most cryptocurrency tokens are securities.
He also has made a series of public statements in which he criticized cryptocurrency executives who claim that cryptocurrency tokens cannot be securities, including by implying that their assertions about a lack of clarity concerning the application of securities laws to crypto tokens were made in bad faith.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]