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© Reuters After recently casting him as a security, video of the SEC chairman praising Algorand resurfaces
A four-year-old video of US Securities and Exchange Commission chairman Gary Genser lauding smart contract platform Algorand (ALGO) is circulating on Twitter after the SEC ruled that ALGO is a financial instrument not registered.
In the video, Gensler calls Algorand a “great technology” as he considers whether a “high-performance” smart contract network could integrate an Uber-like application (NYSE:) or Lyft (NASDAQ:) on its platform.
ALGO is one of six tokens Gensler said were unregistered securities in the SEC lawsuit filed against cryptocurrency trading platform Bittrex on April 17, challenging ALGO’s initial coin offering (ICO) Algorand Foundation in June 2019.
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