FOX Business senior reporter Charles Gasparino clarified the meaning of cryptocurrency investment warnings issued by SEC Chairman Gary Gensler.
Securities Lawyers Working for SEC: “Gary Gensler's Cryptocurrency Warnings Harbinger of Bitcoin Spot ETF Approval”
Top securities lawyers working with the SEC believe Gensler's recent crypto warnings are a prelude to the imminent approval of a spot Bitcoin ETF, Gasparino claims.
According to the lawyers, Gary Gensler wants it to be recorded that he warned about the following issues:
- “Bitcoin is a speculative, volatile asset and is similar to a fiat currency with dubious backings, such as the Argentine peso.
- Other digital assets shape etc. It is not the same as Bitcoin. The world does not need or care about a glut of “fiat” digital assets like the Argentinian peso.
- Governments could take regulatory steps that would harm Bitcoin.
- The crypto ecosystem has been invaded by law breakers and scammers.
- There is no longer any obstacle to SEC approval; The SEC is a disclosure-based and process-based regulator. The risks are now known and the trading processes are adequate. However, investors are warned, the risks are extremely high and processes outside the USA cannot be controlled.”
However, Gasparino stated in his statement that he did not say that the approval of Bitcoin Spot ETFs was certain, but only quoted lawyers.
*This is not investment advice.
