The Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, refused to discuss the current status of applications for the launch of spot Bitcoin ETFs in response to a question from a Bloomberg Television journalist.
In a conversation after a meeting focused on changes in the Treasury bond market, the SEC Chairman expressed the following opinion:
Gary Gensler noted that cryptocurrencies are not only less important but also have harmed many investors.
Bloomberg analyst James Seifert acknowledged that Gary Gensler "fairly expressed his opinion" in his statement. However, the journalist discussed the topic of the meeting for five minutes before turning to the topic of cryptocurrencies, and according to the expert, she could have expected an answer on this topic.
Currently, the SEC is reviewing more than a dozen proposals for the registration of exchange-traded funds linked to the current price of Bitcoin. Among the applicants are companies such as BlackRock, Grayscale, Franklin Templeton, and Fidelity, which began discussing the possibility of launching their products with the regulator in early December. This process began in November and, according to experts, is nearing completion.
Previously, Gensler has repeatedly emphasized that cryptocurrencies should be considered securities and fall under SEC regulation. Meanwhile, the Chairman of the U.S. Commodity Futures Trading Commission, Rostin Benham, considers most digital assets as commodities.
Recall that Gensler expressed the view that the global economy does not need cryptocurrencies and that they can cause harm. He also called the digital asset industry a place for fraud, scams, and other illegal activities.
