Cryptocurrencies
Former CFTC Head Says Big Cryptocurrencies Could Be Classified as Securities
- Ether, Ripple may be securities, former CFTC head Gensler says
- Many digital coins are likely operating outside the law
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Tokens sold in initial coin offerings have come under increased scrutiny from U.S. regulators, but some of the biggest cryptocurrencies aren’t necessarily off the hook.
Gary Gensler, the former chairman of the Commodity Futures Trading Commission, said that government officials should take a closer look at the largest coins by market capitalization, not just at tokens sold in ICOs. Ethereum’s Ether and Ripple’s XRP could probably be classified as securities, Gensler said.