SEC Chairman Gary Gensler Caught Shilling Algorand, Now Deems It a Security

Gary Gensler, head of the Securities and Exchange Commission, has been caught promoting Algorand (ALGO) The SEC chair is spearheading a regulatory crackdown on Bitcoin and other cryptocurrencies. Critics are calling him a hypocrite.

Highlights

• Gary Gensler, head of the Securities and Exchange Commission, has been caught promoting Algorand.
• The SEC chairman is spearheading a regulatory crackdown on Bitcoin and other cryptocurrencies.
• Critics are calling him a hypocrite.
• The news comes on the same day that the SEC named six crypto tokens listed on Bittrex as securities under US law.
• It is not yet clear if the SEC’s new Inspector General will investigate the promotion of a security.
• Last year, the SEC took legal action against reality star Kim Kardashian for touting a crypto security.

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