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In <a href="https://www.sec.gov/news/speech/gensler-sec-speaks-090822" target="_blank" rel="noreferrer noopener">prepared </a><a href="https://www.sec.gov/news/speech/gensler-sec-speaks-090822">remarks</a> delivered at the Practising Law Institute’s “SEC Speaks” program on Sept. 8, Chair Gensler emphasized and reiterated his long-standing position that the vast majority of cryptocurrency tokens are securities, and he noted that “only a small number of tokens, even though they may represent a significant portion of the crypto market’s aggregate value” may qualify as “crypto non-security tokens.” Gensler’s remarks are in line with the position he has historically promoted and are consistent with increased crypto-related enforcement actions by the Commission.

<a href="https://www.bakerlaw.com/alerts/sec-chair-stands-firm-vast-majority-cryptocurrency-tokens-securities" target="_blank" rel="noreferrer noopener">Read full alert.</a>

New York

Partner

Michelle  N. Tanney

Joanna F. Wasick

Washington, D.C.

Kevin R. Edgar

Chicago

Robert A. Musiala Jr.

SEC Chair Stands Firm: ‘Vast Majority’ of Cryptocurrency Tokens Are Securities