"These kinds of SEC things, what does he want to do after this?"
Gary Gensler, Chairman of the Securities and Exchange Commission (SEC) of the United States (US) is likely to declare all cryptocurrencies except Bitcoin (BTC) as securities.
The SEC has recently acted aggressively and has also been seen to want to further tighten regulation of the crypto market.
Explained in more detail, Gensler really believes that crypto transactions except BTC are under the jurisdiction of the SEC following owning a website including a group of entrepreneurs who set up their own law firm.
It is well known that Gensler's statement means that entrepreneurs who promote their digital assets are the follow-on securities most investors will expect to profit based on the group.
Gensler also said that crypto-investors who hope to make a profit through such intermediary efforts are very synonymous with shareholders in publicly listed companies who want to see their investments grow.
The streak, he once again insisted that crypto should be included in the jurisdiction of the SEC and securities.
Even so, a popular crypto lawyer named Jake Chervinsky criticized the SEC's actions saying that they do not have the authority to regulate the digital asset until it can prove its case in court.
In the meantime, some BTC supporters have taken the opportunity from the SEC's action to encourage the use of BTC so that its price jumps higher and is used as global money.
