#SEC Chair: Bitcoin and Ethereum Are Not Securities#

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler recently said that the SEC “never said” Bitcoin and Ethereum were securities. The statement came as Gensler prepares to leave his post as SEC chair, emphasizing that neither he nor his predecessor Jay Clayton had classified Bitcoin as a security. This statement seemingly differs from the SEC’s previous stance on cryptocurrencies, as the agency had previously been cautious about the crypto industry and investigated and even sued many crypto projects. Gensler’s statement has sparked speculation about the SEC’s future regulatory direction, with some believing that it indicates a possible shift in the SEC’s stance on cryptocurrencies while others believe it is just a gesture by Gensler before leaving office and will not have a substantial impact on the SEC’s regulatory policies. Regardless, Gensler’s statement shows a shift in the SEC’s attitude towards cryptocurrencies, and it remains to be seen how the SEC will regulate cryptocurrencies in the future.