SEC Chair Says PoS Crypto Tokens are Securities, Clashes with CFTC

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The United States Securities and Exchange Commission Chairperson Gary Gensler reiterated that all proof-of-stake (PoS) crypto tokens should be registered as securities. According to Gensler, creators of PoS protocols often promote their projects on social media, thus luring investors based on the expectation of earning a return. Without naming any crypto token, Gensler indicated that …