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SEC chair says PoS crypto may be securities hours after Ethereum Merge

SEC chair Gary Gensler said Proof-of-Stake blockchains fall under securities just hours after Ethereum’s Merge.

Gary Gensler still backing the SEC to be the best crypto regulator

Making the case for the SEC, Gensler points to crypto platforms’ structural similarity to existing securities exchanges.

Lawyer John Deaton says the SEC should go after Ripple if it can prove a case but it’s unfair to hit traders 10 years after they bought XRP.

The SEC says the new proposal will give it greater regulatory oversight, allow it to better assess risk, and protect investors.

A new senate bill would see the CFTC regulate crypto instead of the SEC, amid a petition to oust Gary Gensler as chairman.