Key Takeaways
- SEC Chair Gensler reiterated that Bitcoin is not a security.
- Gensler highlighted the importance of clear regulations for market trust.
- He cited recent crypto collapses to demonstrate risks in the sector.
In a recent CNBC interview, SEC Chair Gary Gensler confirmed that Bitcoin does not fall under the classification of a security based on SEC regulations.
He referenced the approval of multiple spot Bitcoin ETFs now traded on major exchanges like Nasdaq and the NYSE as further proof of this stance.
Gensler emphasized that while Bitcoin remains exempt, the SEC continues to scrutinize the broader digital asset market. He stressed that the agency’s mission is to enforce rules and protect investors, pointing out:
Innovations don’t long thrive if they don’t also build trust.
Addressing concerns from the crypto sector about regulatory clarity, Gensler dismissed claims of ambiguity. Citing the collapse of major crypto firms and legal action against industry figures as warnings of the risks in the space, he said:
Not liking the rules is not the same as denying that there are rules.
When asked about Bitcoin’s potential future role in the global economy, Gensler refused to speculate, emphasizing that the sector must prioritize building trust through robust investor protections.
