SEC’s Gensler Issues Warning as Fake Stocks Bloom on Blockchains

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SEC’s Gensler Issues Warning as Fake Stocks Bloom on Blockchains

Bloomberg2021-07-22

(Bloomberg) -- Securities and Exchange Commission Chair Gary Gensler has a warning about the synthetic stocks popping up on blockchains: Firms selling the tokens to U.S. investors are likely to end up...

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SillyOldBear
·2021-07-22
Like and comment pls
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6
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- Zhenghao:
  Ok
  2021-07-22
  Reply
  Report
- KLS:
  Buy
  2021-07-22
  Reply
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JaydenSee
·2021-07-22
Pls like and comments
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5
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- JaydenSee:
  thanks
  2021-07-22
  Reply
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- ZEROHERO:
  Done
  2021-07-22
  Reply
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Shop
·2021-07-22
noted
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4
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ivanlam
·2021-07-22
Sec alway messing around
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- ZEROHERO:
  Their job to look busy
  2021-07-22
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- ivanlam:
  [开心]
  2021-07-22
  Reply
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- Shop:
  alright
  2021-07-22
  Reply
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MalcolmLi
·2021-07-22
Nice
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3
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- N30:
  [Strong]
  2021-07-22
  Reply
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He also pledged to use all the resources in the SEC’s “enforcement toolkit” to go after those who might be offering such assets without registering them.</p>\n<p>“It doesn’t matter whether it’s a stock token, a stable value token backed by securities or any other virtual product that provides synthetic exposure to underlying securities,” Gensler said for an event held by the American Bar Association. “These platforms -- whether in the decentralized or centralized finance space -- are implicated by the securities laws and must work within our securities regime.”</p>\n<p>Gensler’s comments referenced what’s known as DeFi, a fast-moving corner of the cryptocurrency market where tokens that track the performance of huge companies have started emerging. The trading has triggered regulatory scrutiny that’s prompted some in the industry to pull back. Cryptocurrency exchange Binance Holdings announced last week that it was phasing out support for tokens linked to equities.</p>\n<p>Gensler has repeatedly said that cryptocurrencies need more oversight. In May, he told a House panel that he was looking forward to working with Congress and other regulators “to fill in the gaps of investor protection.” He added that digital token exchanges were ripe for additional rules and urged lawmakers to pass legislation giving the SEC authority to police the trading venues.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC’s Gensler Issues Warning as Fake Stocks Bloom on Blockchains</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC’s Gensler Issues Warning as Fake Stocks Bloom on Blockchains\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-22 09:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/sec-gensler-issues-warning-fake-154413663.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Securities and Exchange Commission Chair Gary Gensler has a warning about the synthetic stocks popping up on blockchains: Firms selling the tokens to U.S. investors are likely to end up...</p>\n\n<a href=\"https://finance.yahoo.com/news/sec-gensler-issues-warning-fake-154413663.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/sec-gensler-issues-warning-fake-154413663.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2153644260","content_text":"(Bloomberg) -- Securities and Exchange Commission Chair Gary Gensler has a warning about the synthetic stocks popping up on blockchains: Firms selling the tokens to U.S. investors are likely to end up in trouble with regulators.\nIn a Wednesday speech, Gensler made clear that tokens that mirror the performance of Amazon.com Inc., Tesla Inc. and other well-known companies are probably still covered by U.S. securities laws. He also pledged to use all the resources in the SEC’s “enforcement toolkit” to go after those who might be offering such assets without registering them.\n“It doesn’t matter whether it’s a stock token, a stable value token backed by securities or any other virtual product that provides synthetic exposure to underlying securities,” Gensler said for an event held by the American Bar Association. “These platforms -- whether in the decentralized or centralized finance space -- are implicated by the securities laws and must work within our securities regime.”\nGensler’s comments referenced what’s known as DeFi, a fast-moving corner of the cryptocurrency market where tokens that track the performance of huge companies have started emerging. The trading has triggered regulatory scrutiny that’s prompted some in the industry to pull back. Cryptocurrency exchange Binance Holdings announced last week that it was phasing out support for tokens linked to equities.\nGensler has repeatedly said that cryptocurrencies need more oversight. In May, he told a House panel that he was looking forward to working with Congress and other regulators “to fill in the gaps of investor protection.” He added that digital token exchanges were ripe for additional rules and urged lawmakers to pass legislation giving the SEC authority to police the trading venues.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5295741,"gmtCreate":1626964903327,"gmtModify":1663231332845,"authorId":3571546243427161,"author":{"id":3571546243427161,"idStr":"3571546243427161","authorId":3571546243427161,"name":"JaydenSee","avatar":"https://static.tigerbbs.com/f81b1d1b9ef76e9028b0f68e5a5d3553","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":176777440,"type":1,"supId":5289676,"prevId":0,"content":"thanks","text":"thanks","html":"thanks"},{"id":5289676,"gmtCreate":1626920288058,"gmtModify":1663231299051,"authorId":3566532164444643,"author":{"id":3566532164444643,"idStr":"3566532164444643","authorId":3566532164444643,"name":"ZEROHERO","avatar":"https://static.tigerbbs.com/62813b6df1c4722e559d112fadd5486a","vip":2,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.02.05","exceedPercentage":"93.59%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":8,"crmLevelSwitch":1,"individualDisplayBadges":[{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","templateUuid":"9427a906234c4b18a82ec3d7730b7fa8","name":"Star Contributor","description":"Have published 3 or more picked posts, and have published at least one picked post and participated in comments within 30 days","bigImgUrl":"https://community-static.tradeup.com/news/1866dcf97a73be1c330f85862546aedc","smallImgUrl":"https://community-static.tradeup.com/news/4f5c5fa8e2c7683bb5a7fce8753ee456","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/activity/market/2023/star-contributors/","hasAllocated":1,"isWearing":0,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.11.23","individualDisplayEnabled":1,"backgroundColor":{"dark":"#675a37","tint":"#f9ebc2"},"fontColor":{"dark":"#ffffff","tint":"#ab7a0e"},"individualDisplaySort":0,"categoryType":2007}]},"repliedAuthorId":0,"objectId":176777440,"type":1,"supId":0,"prevId":0,"content":"Done","text":"Done","html":"Done"}],"langContent":"EN"},{"id":176776605,"gmtCreate":1626918455207,"gmtModify":1703480544555,"author":{"id":"3582022994702843","authorId":"3582022994702843","name":"Shop","avatar":"https://static.tigerbbs.com/d361fd3c4c5677fff3957e6d430ecb52","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582022994702843","authorIdStr":"3582022994702843"},"htmlText":"noted","listText":"noted","text":"noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/176776605","repostId":2153644260,"repostType":4,"repost":{"id":"2153644260","pubTimestamp":1626917773,"share":"https://ttm.financial/m/news/2153644260?lang=&edition=fundamental","pubTime":"2021-07-22 09:36","market":"us","language":"en","title":"SEC’s Gensler Issues Warning as Fake Stocks Bloom on Blockchains","url":"https://stock-news.laohu8.com/highlight/detail?id=2153644260","media":"Bloomberg","summary":"(Bloomberg) -- Securities and Exchange Commission Chair Gary Gensler has a warning about the synthet","content":"<p>(Bloomberg) -- Securities and Exchange Commission Chair Gary Gensler has a warning about the synthetic stocks popping up on blockchains: Firms selling the tokens to U.S. investors are likely to end up in trouble with regulators.</p>\n<p>In a Wednesday speech, Gensler made clear that tokens that mirror the performance of Amazon.com Inc., Tesla Inc. and other well-known companies are probably still covered by U.S. securities laws. He also pledged to use all the resources in the SEC’s “enforcement toolkit” to go after those who might be offering such assets without registering them.</p>\n<p>“It doesn’t matter whether it’s a stock token, a stable value token backed by securities or any other virtual product that provides synthetic exposure to underlying securities,” Gensler said for an event held by the American Bar Association. “These platforms -- whether in the decentralized or centralized finance space -- are implicated by the securities laws and must work within our securities regime.”</p>\n<p>Gensler’s comments referenced what’s known as DeFi, a fast-moving corner of the cryptocurrency market where tokens that track the performance of huge companies have started emerging. The trading has triggered regulatory scrutiny that’s prompted some in the industry to pull back. Cryptocurrency exchange Binance Holdings announced last week that it was phasing out support for tokens linked to equities.</p>\n<p>Gensler has repeatedly said that cryptocurrencies need more oversight. In May, he told a House panel that he was looking forward to working with Congress and other regulators “to fill in the gaps of investor protection.” He added that digital token exchanges were ripe for additional rules and urged lawmakers to pass legislation giving the SEC authority to police the trading venues.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC’s Gensler Issues Warning as Fake Stocks Bloom on Blockchains</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC’s Gensler Issues Warning as Fake Stocks Bloom on Blockchains\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-22 09:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/sec-gensler-issues-warning-fake-154413663.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Securities and Exchange Commission Chair Gary Gensler has a warning about the synthetic stocks popping up on blockchains: Firms selling the tokens to U.S. investors are likely to end up...</p>\n\n<a href=\"https://finance.yahoo.com/news/sec-gensler-issues-warning-fake-154413663.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/sec-gensler-issues-warning-fake-154413663.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2153644260","content_text":"(Bloomberg) -- Securities and Exchange Commission Chair Gary Gensler has a warning about the synthetic stocks popping up on blockchains: Firms selling the tokens to U.S. investors are likely to end up in trouble with regulators.\nIn a Wednesday speech, Gensler made clear that tokens that mirror the performance of Amazon.com Inc., Tesla Inc. and other well-known companies are probably still covered by U.S. securities laws. He also pledged to use all the resources in the SEC’s “enforcement toolkit” to go after those who might be offering such assets without registering them.\n“It doesn’t matter whether it’s a stock token, a stable value token backed by securities or any other virtual product that provides synthetic exposure to underlying securities,” Gensler said for an event held by the American Bar Association. “These platforms -- whether in the decentralized or centralized finance space -- are implicated by the securities laws and must work within our securities regime.”\nGensler’s comments referenced what’s known as DeFi, a fast-moving corner of the cryptocurrency market where tokens that track the performance of huge companies have started emerging. The trading has triggered regulatory scrutiny that’s prompted some in the industry to pull back. Cryptocurrency exchange Binance Holdings announced last week that it was phasing out support for tokens linked to equities.\nGensler has repeatedly said that cryptocurrencies need more oversight. In May, he told a House panel that he was looking forward to working with Congress and other regulators “to fill in the gaps of investor protection.” He added that digital token exchanges were ripe for additional rules and urged lawmakers to pass legislation giving the SEC authority to police the trading venues.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":176745159,"gmtCreate":1626918045071,"gmtModify":1703480533962,"author":{"id":"3582016577975526","authorId":"3582016577975526","name":"ivanlam","avatar":"https://static.tigerbbs.com/b69aadeaeb7dadd4cee48a1d48771644","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3582016577975526","authorIdStr":"3582016577975526"},"htmlText":"Sec alway messing around","listText":"Sec alway messing around","text":"Sec alway messing around","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/176745159","repostId":2153644260,"repostType":4,"repost":{"id":"2153644260","pubTimestamp":1626917773,"share":"https://ttm.financial/m/news/2153644260?lang=&edition=fundamental","pubTime":"2021-07-22 09:36","market":"us","language":"en","title":"SEC’s Gensler Issues Warning as Fake Stocks Bloom on Blockchains","url":"https://stock-news.laohu8.com/highlight/detail?id=2153644260","media":"Bloomberg","summary":"(Bloomberg) -- Securities and Exchange Commission Chair Gary Gensler has a warning about the synthet","content":"<p>(Bloomberg) -- Securities and Exchange Commission Chair Gary Gensler has a warning about the synthetic stocks popping up on blockchains: Firms selling the tokens to U.S. investors are likely to end up in trouble with regulators.</p>\n<p>In a Wednesday speech, Gensler made clear that tokens that mirror the performance of Amazon.com Inc., Tesla Inc. and other well-known companies are probably still covered by U.S. securities laws. He also pledged to use all the resources in the SEC’s “enforcement toolkit” to go after those who might be offering such assets without registering them.</p>\n<p>“It doesn’t matter whether it’s a stock token, a stable value token backed by securities or any other virtual product that provides synthetic exposure to underlying securities,” Gensler said for an event held by the American Bar Association. “These platforms -- whether in the decentralized or centralized finance space -- are implicated by the securities laws and must work within our securities regime.”</p>\n<p>Gensler’s comments referenced what’s known as DeFi, a fast-moving corner of the cryptocurrency market where tokens that track the performance of huge companies have started emerging. The trading has triggered regulatory scrutiny that’s prompted some in the industry to pull back. Cryptocurrency exchange Binance Holdings announced last week that it was phasing out support for tokens linked to equities.</p>\n<p>Gensler has repeatedly said that cryptocurrencies need more oversight. 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He also pledged to use all the resources in the SEC’s “enforcement toolkit” to go after those who might be offering such assets without registering them.\n“It doesn’t matter whether it’s a stock token, a stable value token backed by securities or any other virtual product that provides synthetic exposure to underlying securities,” Gensler said for an event held by the American Bar Association. “These platforms -- whether in the decentralized or centralized finance space -- are implicated by the securities laws and must work within our securities regime.”\nGensler’s comments referenced what’s known as DeFi, a fast-moving corner of the cryptocurrency market where tokens that track the performance of huge companies have started emerging. The trading has triggered regulatory scrutiny that’s prompted some in the industry to pull back. Cryptocurrency exchange Binance Holdings announced last week that it was phasing out support for tokens linked to equities.\nGensler has repeatedly said that cryptocurrencies need more oversight. In May, he told a House panel that he was looking forward to working with Congress and other regulators “to fill in the gaps of investor protection.” He added that digital token exchanges were ripe for additional rules and urged lawmakers to pass legislation giving the SEC authority to police the trading venues.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5289677,"gmtCreate":1626920315191,"gmtModify":1663231300746,"authorId":3566532164444643,"author":{"id":3566532164444643,"idStr":"3566532164444643","authorId":3566532164444643,"name":"ZEROHERO","avatar":"https://static.tigerbbs.com/62813b6df1c4722e559d112fadd5486a","vip":2,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 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09:36","market":"us","language":"en","title":"SEC’s Gensler Issues Warning as Fake Stocks Bloom on Blockchains","url":"https://stock-news.laohu8.com/highlight/detail?id=2153644260","media":"Bloomberg","summary":"(Bloomberg) -- Securities and Exchange Commission Chair Gary Gensler has a warning about the synthet","content":"<p>(Bloomberg) -- Securities and Exchange Commission Chair Gary Gensler has a warning about the synthetic stocks popping up on blockchains: Firms selling the tokens to U.S. investors are likely to end up in trouble with regulators.</p>\n<p>In a Wednesday speech, Gensler made clear that tokens that mirror the performance of Amazon.com Inc., Tesla Inc. and other well-known companies are probably still covered by U.S. securities laws. He also pledged to use all the resources in the SEC’s “enforcement toolkit” to go after those who might be offering such assets without registering them.</p>\n<p>“It doesn’t matter whether it’s a stock token, a stable value token backed by securities or any other virtual product that provides synthetic exposure to underlying securities,” Gensler said for an event held by the American Bar Association. “These platforms -- whether in the decentralized or centralized finance space -- are implicated by the securities laws and must work within our securities regime.”</p>\n<p>Gensler’s comments referenced what’s known as DeFi, a fast-moving corner of the cryptocurrency market where tokens that track the performance of huge companies have started emerging. The trading has triggered regulatory scrutiny that’s prompted some in the industry to pull back. Cryptocurrency exchange Binance Holdings announced last week that it was phasing out support for tokens linked to equities.</p>\n<p>Gensler has repeatedly said that cryptocurrencies need more oversight. In May, he told a House panel that he was looking forward to working with Congress and other regulators “to fill in the gaps of investor protection.” He added that digital token exchanges were ripe for additional rules and urged lawmakers to pass legislation giving the SEC authority to police the trading venues.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC’s Gensler Issues Warning as Fake Stocks Bloom on Blockchains</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC’s Gensler Issues Warning as Fake Stocks Bloom on Blockchains\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-22 09:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/sec-gensler-issues-warning-fake-154413663.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Securities and Exchange Commission Chair Gary Gensler has a warning about the synthetic stocks popping up on blockchains: Firms selling the tokens to U.S. investors are likely to end up...</p>\n\n<a href=\"https://finance.yahoo.com/news/sec-gensler-issues-warning-fake-154413663.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://finance.yahoo.com/news/sec-gensler-issues-warning-fake-154413663.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2153644260","content_text":"(Bloomberg) -- Securities and Exchange Commission Chair Gary Gensler has a warning about the synthetic stocks popping up on blockchains: Firms selling the tokens to U.S. investors are likely to end up in trouble with regulators.\nIn a Wednesday speech, Gensler made clear that tokens that mirror the performance of Amazon.com Inc., Tesla Inc. and other well-known companies are probably still covered by U.S. securities laws. He also pledged to use all the resources in the SEC’s “enforcement toolkit” to go after those who might be offering such assets without registering them.\n“It doesn’t matter whether it’s a stock token, a stable value token backed by securities or any other virtual product that provides synthetic exposure to underlying securities,” Gensler said for an event held by the American Bar Association. “These platforms -- whether in the decentralized or centralized finance space -- are implicated by the securities laws and must work within our securities regime.”\nGensler’s comments referenced what’s known as DeFi, a fast-moving corner of the cryptocurrency market where tokens that track the performance of huge companies have started emerging. The trading has triggered regulatory scrutiny that’s prompted some in the industry to pull back. Cryptocurrency exchange Binance Holdings announced last week that it was phasing out support for tokens linked to equities.\nGensler has repeatedly said that cryptocurrencies need more oversight. 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