"Secret Democrat Plan Could Impact Bitcoin and Ethereum Prices"

A leaked memo circulated to Democrat House financial services committee members has revealed the "key messages" lawmakers were told to stick to that could see almost all cryptocurrencies categorized as securities. The memo calls on Democrat lawmakers to push back on Republican claims "they are working to provide clarity to the markets by carving out space for the Commodity Futures Trading Commission (CFTC) in crypto." Under chair Gary Gensler, the U.S. Securities and Exchange Commission (SEC) has claimed authority over the crypto market and suggested it views all cryptocurrencies other than bitcoin as unregistered securities.