Amid a potential ouster from his position as SEC chairman, Gary Gensler continues to stress the importance of cryptocurrency regulation, insisting that most cryptocurrencies are securities.
Gensler's Statements on Cryptocurrencies
On November 14 in New York, Gensler noted that not every crypto asset is a security. He stated that neither he nor former SEC chairman Jay Clayton ever considered Bitcoin a security.
Views on Crypto Asset Classification
Gensler believes most other crypto assets are securities, despite a lack of legal or congressional classification. He pointed out that many digital assets were offered as securities. Gensler also emphasized that parties offering or selling securities to the public must register and disclose information, as should intermediaries, such as brokers and exchanges.
Protests Against SEC and Potential Departure
Eighteen US states filed a lawsuit against Gensler, accusing the SEC of overreach in the crypto sector. The lawsuit, signed by 18 Republican Attorneys General, further hints at a potential resignation, with Gensler expressing pride in his work at the SEC to protect American families in finance.
Gary Gensler remains steadfast in his approach to crypto regulation, despite criticism and forthcoming changes at the SEC. Meanwhile, the crypto industry and investors remain hopeful for favorable outcomes in ongoing legal battles.
