Gary Gensler, the Chair of the United States Securities and Exchange Commission (SEC), is determined to have the agency regulate crypto assets. He will reiterate this view to lawmakers on September 12th. Gensler believes that most crypto tokens meet the Howey Test, which determines whether or not an asset or transaction can be deemed a security. The SEC has recently faced two major court setbacks, with Judge Analisa Torres ruling partially in favor of Ripple and a judge declaring the SEC’s rejection of Grayscale’s request to convert its over-the-counter Bitcoin Trust into a Bitcoin exchange traded fund (ETF) as “arbitrary and capricious.” Blockchain-based payments network LBRY has also filed a notice of appeal against the ruling that sided with the SEC. Despite these losses, Gensler remains headstrong that his agency should be the one to reign over crypto. He believes that given the industry’s wide-ranging noncompliance with the securities laws, the SEC should be the one to regulate crypto assets.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	9
People	LBRY, Gary Gensler, Grayscale, Analisa Torres
Companies	LBRY, Ripple, Grayscale, Howey Test, SEC
Currencies	Bitcoin, Ethereum, LBRY Credits, XRP, grayscale.
Securities	None