Coinbase CLO: Gary Gensler tells US Congress that securities laws apply to crypto assets involved in investment contracts

Odaily News According to Coinbase CEO paulgrewal.eth's post on X platform, SEC Chairman Gary Gensler told the U.S. Congress today, May 22, that securities laws apply when crypto assets or crypto-related investment plans are offered or sold in the form of investment contracts. In addition, Gary Gensler told the U.S. Congress on May 6, 2021 that the SEC has no regulatory framework for exchanges that trade crypto assets.