SEC Chairman Gary Gensler says bitcoin is a commodity. $BTC crypto cryptocurrency
Bitcoin proponents welcome Gensler’s clarification. Digital assets manager Eric Weiss tweeted: “Gensler is the 2nd consecutive SEC Chair to declare that bitcoin is a commodity, making it all but impossible for this classification to be altered in the future. Very significant indeed.”, opined: “Bitcoin is a commodity, which is essential for any treasury reserve asset.
with other federal regulators to oversee the crypto sector, including the CFTC and banking regulators. He emphasized that many crypto tokens are currently trying to operate in a non-compliant way.There’s work to be done there around stablecoins … There’s a lot of work to be done to really protect the investing public.During the interview Monday, Cramer brought up Fidelity Investments allowing bitcoin as an option for 401 plans — the decision that has.
“There’s a lot of risk in crypto” and “there’s also a lot of risk in classic securities markets,” Gensler replied, elaborating: In the U.S… we have market regulators like the CFTC and the SEC to help protect the public against fraud and manipulation in the markets. Gensler added that there are currently thousands of crypto tokens that do not comply with the laws, noting that when a group of entrepreneurs is selling something to the public, there must be “full and fair disclosures.” The chairman stressed: “That’s what the SEC does. That’s what we do really well.”