SEC Chairman Gary Gensler: “Bitcoin Is The Only One I’m Willing To Say Is A Commodity”
SEC Chairman Gary Gensler said today that Bitcoin is the only cryptocurrency he would label a commodity rather than a security.
“Many of these tokens…the investing public is hoping for a return just like when they invest in other financial assets we call securities,” he said in an interview on Squawk Box. “Many of these financial assets, crypto financial assets have the key attributes of a security,” and are therefore under the SEC’s jurisdiction.
“Some like bitcoin, and that’s the only one I’m gonna say…my predecessors and others have said, they’re a commodity,” he added, noting this classification gives the Commodity Futures Trading Commission a key role in overseeing bitcoin markets.
“There’s two great market regulators in this country,” Gensler continued, arguing that the agencies have the capacity to work together to bring fairness, transparency and investor protection to markets for digital assets.
