SEC Chair Gensler Clarifies Stance on Bitcoin and Ethereum
- SEC Chair Gary Gensler stated the agency has “never said” bitcoin or ether are securities.
- The SEC issued subpoenas to firms associated with the Ethereum Foundation in March 2024.
- Consensys sued the SEC over an investigation into “Ethereum 2.0” in 2023.
- Bitcoin and Ethereum account for over 70% of the crypto market, according to Gensler.
- In January 2024, the SEC approved Bitcoin and Ethereum ETFs.
Gary Gensler, outgoing SEC Chair, emphasized that neither he nor his predecessor classified bitcoin or ether as securities. Despite ongoing legal scrutiny, he confirmed no official stance has been taken by the SEC on these cryptocurrencies’ status.
