SEC's Gensler is on the wires saying:
- Issuers of crypto securities need to register the offer and sale of their investment contracts with the SEC, or they must meet requirements for exemption.
- The "vast majority" of crypto tokens meet the SEC's investment contract test.
- He advises not to believe crypto asset market participants who claim on social media or television that they were unaware their activities could be illegal.
- Clarifies that adding some additional utility does not exempt a crypto asset security from being defined as an investment contract.
- Suggests that crypto asset market participants have consciously chosen to risk enforcement action as a cost of doing business.
- Affirms that since most crypto tokens are subject to SEC securities laws, most crypto intermediaries also need to comply with these laws.
- States that cryptocurrency intermediaries must comply with registration as it's essential for providing basic protections to the public and markets.
The coin is trading at $26,475. The price reached a high of $26,809. The low today was at $26,225. At the highs, the price tested its 200-hour moving average (green line currently at $26,783). The last 3 tests of the 200 hour moving average found willing sellers keeping the sellers more control technically. It would take a move above those moving averages to give the buyers more control at least in the short term.
Bitcoin finds resistance against 200 hour moving average
