‘Navigating Uncharted Waters’: Barr Responds To Gensler’s Testimonial

• US SEC chair Gary Gensler released a testimonial calling crypto tokens securities.
• Chamber of Digital Commerce’s policy head, Taylor Barr said that crypto firms are navigating “uncharted waters,” due to unclear regulations.
• Crypto attorney Mike Selig emphasized Judge Torress’ ruling against crypto as a security.

U.S. Securities and Exchange Commission Chairman, Gary Gensler is scheduled to speak at September’s U.S. Senate Banking Committee GOP. On September 12, the policy head of the Chamber of Digital Commerce, Taylor Barr tweeted about Gensler’s testimony at the event regarding crypto.

NEW: Ahead of tomorrow’s @BankingGOP hearing, @GaryGensler released the testimony he will give to the committee. Here’s what he will have to say about crypto tomorrow pic.twitter.com/jSGwaWvOi0

— Taylor Barr (@taylorjbarr) September 11, 2023

According to screenshots of the testimonial shared by Barr, most crypto tokens are subject to security laws. Henceforth, the majority of “crypto intermediaries,” have to operate in accordance to the security laws. However, Gensler has noted, “Given this industry’s wide-ranging non-compliance with the securities …

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