Gary Gensler final lobbying on US crypto industry regulatory rules

The attorney generals asked the court to declare that a “digital asset transaction is not an investment contract.” The complaint names the SEC, SEC Chair Gary Gensler and the agency’s commissioners as defendants.

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The US stock market closed down, with the Dow Jones Industrial Average falling 0.47%, the Nasdaq falling 0.64%, and the S&P 500 index falling 0.61%.

VanEck Head of Digital Assets Research Matthew Sigel said bitcoin’s rally could continue well into 2025. Bitcoin’s bullish momentum following Trump’s presidential nomination resembles its rally following the 2020 election seating Democrat Joe Biden, he said.