Key Takeaways
- SEC Chair Gary Gensler reiterated that Bitcoin is not a security.
- Gensler refused to comment on Donald Trump’s proposed Bitcoin reserve.
- Gensler defended the SEC's regulatory role despite pushback from the industry.
In an interview with CNBC on Sept. 26, SEC Chair Gary Gensler reiterated that Bitcoin is not a security, stating:
You now have a way that you can actually express that view — buy into that through exchange-traded products.
His comment refers to the approval of Bitcoin ETFs by the SEC earlier this year.
However, Gensler refused to comment on Donald Trump’s proposal for a strategic Bitcoin reserve, citing the upcoming election and his current role. Noting that Federal Reserve Chair Jerome Powell would be more suited to address such matters, Gensler said:
I have a view but… we are in election season.
While Gensler affirmed Bitcoin’s non-security status, he maintained that most other tokens qualify as securities and fall under SEC regulation. This stance has led to ongoing industry pushback and lawsuits, with Gensler responding:
Not liking the rules is not the same as that there aren’t rules.
Gensler also pointed to fraud within the space, highlighting the challenges of building trust, stating:
There’s been tens of billions of dollars of losses… What innovative field in America survives without protecting investors?
