SEC Chairman refused to answer about Bitcoin ETF during the hearing
Chairman of the US Securities and Exchange Commission (SEC) Gensler participated in a testimony before Congress and made many comments.
He said that most cryptocurrencies are subject to securities laws, but the failure of the entire industry to comply with securities laws requires the commission to come up with many solutions.
In addition, the SEC chairman also appeared to be very tough on cryptocurrencies, refusing to answer questions related to Bitcoin ETF and asserting that cryptocurrency Token are not currencies. He also criticized asset management companies for not doing a good job with assets by mixing cryptocurrencies with customer assets.
Gemini withdrew $282 million just before Genesis declared bankruptcy
The Gemini exchange withdrew approximately $282 million in cryptocurrency from Genesis before Genesis suspended deposits and declared bankruptcy. However, this amount is very little compared to the $1.1 billion that users have deposited into Gemini Earn.
Read more: News September 27: Celestia Airdrop, Stellar & Ripple "collide" again.
**Not financial advice.
