In a video shared widely across social media, the Securities and Exchange Commission Chair, Gary Gensler says that the two most prominent cryptocurrencies, Ethereum (ETH) and Bitcoin (BTC) are not securities.
Although the video dates back to 2018, Gensler explicitly says that “Over 70% of the crypto market is Bitcoin, Ether, Litecoin, Bitcoin Cash. Why did I name those four? They’re not securities.”
According to a related report by Cointelegraph, back then, Gary Gensler held a faculty position at the esteemed Massachusetts Institute of Technology (MIT). The footage dates back nearly two years prior to his eventual ascension to the Chair of the Securities and Exchange Commission (SEC).
In a stark juxtaposition to his previous stance, Gensler’s subsequent actions at the SEC paint a different picture. The recent months have witnessed the regulatory body plunge into a wave of enforcement initiatives within the cryptosphere.
Last week, Gensler listed 68 cryptos as securities, includ
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