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Crypto Lawyers Dispute SEC Chief's Jurisdiction Claims
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The Chairman of the SEC, Gary Gensler, recently claimed in an interview that all cryptocurrencies, except Bitcoin, fall under the agency's jurisdiction.
However, his comments have been disputed by lawyers for the cryptocurrency industry who argue that the SEC must prove its case in court for each token individually before it can claim jurisdiction over them.
Jake Chervinsky, a lawyer and policy lead at the crypto advocacy group the Blockchain Association, argued in a tweet that Gensler's opinion is not the law, despite his claimed command over the crypto sector.
He further stated that until the SEC proves its case in court for each individual token, it lacks authority to regulate any of them.
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