Statement from SEC Chairman Gary Gensler on Cryptocurrencies: “Without Prejudice, But…”

The Political Landscape and Cryptocurrencies: A Shift in Perspective

The political landscape in the US has undergone a notable transformation this week, reigniting expectations for the approval of spot Ethereum ETFs.

Gensler's Stance on Cryptocurrencies Remains Unwavering

Despite these developments, the stance of Securities and Exchange Commission (SEC) Chairman Gary Gensler on cryptocurrencies appears unwavering.

In a statement on Thursday, Gensler reaffirmed his conviction that the majority of cryptocurrencies constitute securities. His comments come amidst widespread anticipation for the approval of spot Ether ETFs later in the day.

Gensler's Remarks on Cryptocurrencies

In his speech, Gensler elaborated on his views on cryptocurrencies:

"There are approximately 15,000 to 20,000 tokens in this industry. These are not used as currency. Without prejudice, they typically involve a group of entrepreneurs, and the public evaluates whitepapers, websites, and the entrepreneurs themselves before investing based on their assessment of these individuals. This aligns with the Supreme Court's traditional definition of a security.

"While not all crypto tokens are securities, I believe most fall into that category, but again, without prejudice."

Disclaimer

This is not investment advice.**