#SEC Chair Denies Bitcoin and Ethereum Are Securities#

SEC Chair Gary Gensler recently told Yahoo Finance that the SEC “never said” Bitcoin and Ethereum are securities. He emphasized that neither he nor his predecessor, Jay Clayton, had classified Bitcoin as a security. This statement contrasts sharply with the SEC's previous regulatory stance towards the cryptocurrency industry, which has been characterized by caution and investigations and prosecutions of numerous cryptocurrency projects. Gensler's statement appears to suggest that the SEC is shifting its stance on Bitcoin and Ethereum, but it doesn't mean the SEC will abandon its regulation of the cryptocurrency industry. Gensler stressed that the SEC will continue to regulate the cryptocurrency industry and ensure investor protection. His statement has also sparked market speculation about the SEC's future regulatory direction, with some analysts suggesting that the SEC may adopt a more lenient regulatory approach to the cryptocurrency industry.