Gabor Gurbacs: “Many Cryptocurrencies Seem Like 'Securities' Issued for Fundraising Purposes” slug :
CryptoNewsTerminal Staff19 Aug, 2024
Gabor Gurbacs: “Many Cryptocurrencies Seem Like 'Securities' Issued for Fundraising Purposes” slug :
Tether advisor and VanEck digital asset strategist Gabor Gurbacs took to Twitter to share what he calls a "non-clickbaity" observation about the regulatory landscape surrounding the cryptocurrency industry: “It’s beginning to look like many cryptocurrencies seem like ‘securities’ issued for fundraising purposes.” Gurbacs explained that “Most crypto was issued to fund the development of protocols, foundations, and companies. There’s nothing inherently wrong with that. But regulators have created a breeding ground for fraud by failing to provide clear rules on token issuance, custody, etc.” The debate over the classification of cryptocurrencies and their subsequent regulation is a complex one, with various agencies and jurisdictions taking different approaches. The U.S. Securities and Exchange Commission, for example, has taken a more aggressive stance in recent years, bringing enforcement actions against a number of crypto companies and projects that it deems to have violated securities laws. ```
