A federal judge agreed with Gary Gensler that sales of certain crypto assets are securities, even on secondary markets like exchanges.
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The burgeoning cryptocurrency industry is jumping into the 2024 U.S. election, spending millions of dollars in Super Tuesday primary contests in California, Alabama and Texas to boost crypto-friendly candidates and defeat those pushing for more regulation. Brand new industry super PACs, or independent fundraising groups, Fairshake, Protect Progress and Defend American Jobs, backed by funds from Coinbase and the Winklevoss twins have spent at least $13 million in Tuesday's primary races, according to a Reuters analysis of data from OpenSecrets, a research group that tracks money in U.S. politics and its influence on elections and policy. "The crypto community is playing politics to win," said Fairshake spokesperson Josh Vlasto.