Suche
Mein Konto
SEC chief Gary Gensler described BTC and ETH as not securities” in 2018.
A newly surfaced video from 2018 showed that the current chairman of the US Securities and Exchange Commission (SEC) – Gary Gensler – classified several cryptocurrencies, including Bitcoin (BTC) and Ether (ETH), as “not securities.” His attitude from almost five years ago is in contrast to his vision today. Gensler has argued numerous times that BTC is the only digital asset that could be categorized as a commodity. Gensler's Opinion Before His Appointment as SEC Chairman The video, which went viral on Twitter, shows Gensler saying that four of the leading cryptocurrencies - Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash...
SEC chief Gary Gensler described BTC and ETH as not securities” in 2018.
A newly surfaced video from 2018 showed that the current chairman of the US Securities and Exchange Commission (SEC) – Gary Gensler – classified several cryptocurrencies, including Bitcoin (BTC) and Ether (ETH), as “not securities.”
His attitude from almost five years ago is in contrast to his vision today. Gensler has argued numerous times that BTC is the only digital asset that could be categorized as a commodity.
Gensler's opinion before his appointment as SEC chairman
The video, which went viral on Twitter, shows Gensler saying that four of the leading cryptocurrencies – Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) – should not be treated as securities.
Chairman Gensler in 2018 at a Bloomberg conference in NYC:
"Bitcoin. Ether. Litecoin. Bitcoin Cash. Why did I name these four? They are not securities."
What will Goldman Gary say? Deep fake? pic.twitter.com/p7DJlYkJIt
— Ryan Selkis 🪳 (@twobitidiot) June 12, 2023
The video is from 2018, when Gensler was chairman of the Maryland Financial Consumer Protection Commission. In 2021, he was appointed chairman of the SEC – a US government agency that regulates and oversees the securities markets.
The agency is also known for its crackdown on the cryptocurrency industry and recently filed lawsuits against two of the industry's heavyweights -BinanceAndCoinbase. The main allegations are that they offered trading services with unregulated securities such as BNB, SOL, ADA, MATIC and other well-known assets.
It's worth noting that the agency's lawsuits did not touch on the four cryptocurrencies that Gensler described as "not securities" in 2018.
BTC is a commodity and embarrassing silence towards ETH
Shortly after joining the SEC, Gensler somewhat changed his stance on the cryptocurrency universe. The American, who confessed his affection to the market in the summer of 2021, later calledIt was “highly speculative” and said he had never owned or used digital currencies.
Him tooclaimsmultiple times that “anything other than Bitcoin” is a security, while the primary cryptocurrency is the only one that functions as a commodity.
Unlike BTC, Gensler was quite unclear about the status of ETH. Heavoideda direct answer to whether the second largest crypto asset should be classified as a commodity or security in early 2022.
Gensler did the same asquestionedpassed by the House Financial Services Committee in April of this year. Instead, he gave vague answers to Patrick McHenry's repeated questions without providing further details.
.