BITCOIN

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has reiterated that most crypto tokens are securities, emphasizing that “the law is clear on this.” However, the Commodity Futures Trading Commission (CFTC) has asked Congress for authority over crypto spot markets and several bills have been introduced in Congress this year to provide the CFTC with the necessary authority. SEC Chairman Gary Gensler on Crypto Regulation The issue of which federal agency should regulate the crypto market has gained much attention recently. While the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has said that the majority of crypto tokens are securities and should fall under the purview of his agency, many people and lawmakers believe that it should be the Commodity Futures Trading Commission (CFTC) that regulates the crypto sector. Moreover, three bills have been introduced in Congress this year to make the CFTC the regulator of the cryp

The U.S. Financial Stability Oversight Council (FSOC), a group of the country’s top financial regulators, has urged Congress to pass legislation for the regulation of crypto assets. Treasury Secretary Janet Yellen said: “Crypto-asset activities could pose risks to U.S. financial stability if their interconnections with the traditional financial system or their overall scale were to grow without adherence to or being paired with appropriate regulation, including enforcement of the existing regulatory structure.” U.S. Financial Stability Oversight Council’s Recommendations The U.S. Financial Stability Oversight Council (FSOC) published its “Report on Digital Asset Financial Stability Risks and Regulation” Monday. The 124-page report includes 10 recommendations for the regulation of crypto assets. The FSOC, chaired by the Treasury Secretary, is a group of the country’s top financial regulators. It is made up of 10 voting members and five nonvoting members. The voting members include

The popularity of cryptocurrency as an investment vehicle is dwindling in the U.S., according to a survey made by Bankrate. The survey found that trust in crypto has diminished across several groups, with millennials losing 20% of their trust in the assets — more confidence lost than in the other generational groups surveyed. Investors Losing Confidence in Crypto According to Bankrate While crypto is still considered a new investment vehicle in the current market, some of its believers have started to lose faith. A survey made by Bankrate shows that the number of Americans comfortable with investing in crypto has dropped across generational groups. Millennials, who have traditionally been open and connected to new tech like crypto, have been one of the groups to lose the most confidence in crypto. The percentage of millennials that were “very comfortable” or “comfortable” investing in crypto went from 49% in 2021 to 29% this year. However, other groups also lost confidence in cry