Bitcoin is Not a Security, SEC’s Gensler Confirms, But Stays Silent on National Bitcoin Stockpile
In an interview with CNBC on Thursday, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler furthered his opinion that there is regulatory certainty for the cryptocurrency market while maintaining his position that Bitcoin is not a security.
As it relates to Bitcoin, my predecessor and I have said, that’s not a security. You now have a way that you can actually express that view — buy into that through exchange-traded products.
Gensler
On the other hand, Gensler would not say what he thought of Donald Trump‘s proposal to maintain the current government holdings as the central component of the strategically important national bitcoin stockpile.
I have a view but given my role and also we are in election season so for the listening public I will stick to my chalk lines which are securities markets and chairman Powell and others can speak to that.
Gensler
Gensler Maintains Stance on Crypto Regulation Despite Opposition and Lawsuits
Gensler has argued that aside from Bitcoin, the great majority of other tokens comply with the legal definition of securities and are, therefore, properly under the purview of the SEC. Notwithstanding opposition from the industry, legal actions taken against the SEC, and a recent two-hour hammering the agency received during a congressional hearing titled “Dazed and Confused: Breaking Down the SEC’s Politicized Approach to Digital Asset,” this stance is still held. When asked if the SEC has been controlled through litigation by CNBC, Gensler reiterated that his organization has the authority to monitor the cryptocurrency industry under the existing laws.
Not liking the rules is not the same as that there aren’t rules.
Gensler
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