News

Gary Gensler Certified “BTC, ETH, LTC And BCH Are Not Securities” In 2018: Forbes

Key Points:

  • SEC Chairman Gary Gensler confirmed to institutional investors in 2018 that BTC, ETH, LTC, and BCH are not securities.
  • The comments come at a time when the cryptocurrency is in the midst of a bull market and more than two years before Gensler was appointed SEC chair.
  • Cryptocurrency lawyers said that this statement by Gary Gensler was only at the time, so it did not affect the current legal actions of the SEC.
According to Forbes, a new video shows Gary Gensler, Chairman of the United States Securities and Exchange Commission (SEC), telling institutional investors in 2018 that BTC, ETH, LTC, and BCH are not securities and 75% of the overall crypto market at the time was outside that legal category.

The comments come at a time when the cryptocurrency is in the midst of a bull market and more than two years before Gensler was appointed SEC chair. The video, from a crypto-themed institutional investor event hosted by Bloomberg and Fidelity in 2018, shows Gensler expressing a view that seems to contradict his recent statements that he currently believes that Bitcoin All cryptocurrencies other than cryptocurrencies are securities.

The SEC did not immediately respond to a request for comment about any potential conflicts between Gensler’s 2018 comments and the agency’s current legal position.

Prior to that, other videos from Gensler’s time at the Massachusetts Institute of Technology (MIT) also appeared, showing him saying that Ethereum is not a security. The video is arguably more important as it shows the current SEC chairman providing guidance to hedge funds and other investors on the regulatory state of the crypto market.

The SEC did not immediately respond to a request for comment on any potential conflicts between Gensler’s 2018 comments and the agency’s current legal position.

However, these comments may anger the crypto industry and many crypto owners, who argue that Gensler did not provide guidance on the legality of specific tokens before embarked on what many describe as a “strategy of law enforcement.”

This could be a sensitive time for the SEC chairman as he is under fire from crypto fans due to strong legal actions against the two largest service providers in the market. are Binance and Coinbase. In addition, a pair of Republicans in the House of Representatives presented legislation to remove the chairman of the Securities and Exchange Commission (SEC). Republicans object to Gensler’s “long series of abuses that have been permitted under the current SEC structure.”

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Foxy

Coincu News

Victor

Recent Posts

Trust Wallet CEO Backs Web3, Plus Wallet’s Top-Tier Encryption Ensures Secure Asset Access Amid Crypto Liquidation Hits $277M

Read how Plus Wallet’s top-tier ensures secure, unified digital asset management. Get the latest updates…

3 hours ago

Former Alameda CEO Will Now Serve 2-Year Sentence

Former Alameda CEO Caroline Ellison reported to a Connecticut federal prison on November 7 after…

3 hours ago

Degen Rollup Key Issue Forces Possible Chain Restart

Degen Rollup Key Issue: Conduit seized Degen’s L3 private key, causing 54 hours of downtime…

3 hours ago

Best Cryptos to Join Now: Experts Reveal Top Picks for Explosive Gains

As a wave of exciting developments continues to unfold in the crypto market, lots of…

3 hours ago

Binance Proof of Reserves Shows $120B in Assets Across 34 Tokens

Binance Proof of Reserves reveals $120 billion in assets across 34 tokens, showing growth in…

4 hours ago

This website uses cookies.