- Another video of the SEC chairman appeared online
- At the time he was still teaching at MIT
- The video features Gensler speaking at a conference in New York
- He states that BTC, ETH, LTC and BCH are not securities
Another video of SEC Chairman Gary Gensler is going viral online. The video shows him giving a presentation to institutional investors at an event hosted by Bloomberg.
The nuance here is that during his presentation, Gensler made a rather interesting point:
“Bitcoin. Ethereum. Litecoin. Bitcoin Cash. Why did I name these four assets? They are not securities.”
Watch a segment of the video here, for example. Apparently, the video was taken from a Bloomberg conference on virtual assets held in New York in 2018.
At the time, Gary Gensler was teaching at the Massachusetts Institute of Technology (MIT) and was a cryptocurrency enthusiast. For example, in a previous video we covered earlier, he publicly stated that most crypto-assets are commodities.
In taking over the SEC, Gensler dramatically changed his position. Over the past two years, the regulator has classified a total of 68 tokens as securities in various court cases.
The recent lawsuit against Binance, for example, involved assets with a total capitalization of $115 billion.. Among others, there are MATIC and SOL, about which both companies have already commented.</nbsp;
There are no ETH, BTC or two other assets on the list.. Notably, at a House hearing in April, Gensler was asked a direct question about whether he considered ether a security, but he refused to answer.