Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), made statements about cryptocurrencies.
SEC Chairman Gary Gensler appeared on Bloomberg television on March 6 and talked about cryptocurrencies and climate change. Gensler, who preferred to focus on the fact that cryptocurrencies are risky assets in his statement, said that the whole industry is a “to the roller coaster” he likened.
Bitcoin is a highly speculative asset class. You can understand this when you look at Bitcoin’s volatility over the last few days. I grew up loving roller coasters… but as investors you really need to be aware that BTC is highly speculative and investing in BTC is kind of a roller coaster ride on volatile assets.
Skip the Ethereum (ETH) question
Bloomberg host Gensler said, Whether you consider Ethereum a security asked. Gensler this question that you don’t want to answer for now he stated.
The SEC, under Gary Gensler, has long been Bitcoin is a commodity rather than a security While defending his opinion, the security view for Ethereum was more dominant.
Gensler probably ongoing spot Ethereum exchange traded fund (ETF) process Therefore, he did not want to answer this question for now.