Coinbase CLO: Gary Gensler tells U.S. Congress that securities laws apply to crypto assets involving investment contracts

Golden Finance reported that Coinbase CEO paulgrewal.eth posted on platform X, stating that when cryptocurrency assets or investment plans related to cryptocurrencies are provided or sold in the form of investment contracts, securities laws apply. In addition, Gary Gensler told the US Congress on May 6, 2021 that there is no regulatory framework by the US Securities and Exchange Commission for exchanges trading in cryptocurrency assets.