SEC Chair Gary Gensler Calls Algorand ‘Security’ Despite Praising It Earlier
- SEC Chair Gary Gensler called Algorand (ALGO) and other crypto tokens “securities†in a recent lawsuit against crypto exchange Bittrex.
- Gensler has praised Algorand’s founder Silvio Micali in the past and said that Algorand is a “great technology.â€
- ALGO had an interesting reaction to the news.
The current bear market has been one of the worst for the crypto industry. Multiple companies have gone bust, and asset prices have fallen significantly.
On top of that, regulators, especially those in the U.S., keep serving Wells Notices and lawsuits and providing comments that seem to confuse the industry. The latest example is Gary Gensler calling Algorand’s coin ALGO a security despite having praised it in the past.
SEC Chair Gary Gensler Calls Algorand ‘Security’
The U.S. Securities and Exchange Commission (SEC) issued…
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