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SEC Chairman Gary Gensler often makes statements about cryptocurrencies. His remarks are continuous and consistent with his beliefs. His latest statements are likely to make headlines again. He reiterated his claim that cryptocurrencies should be considered securities. Let’s delve into the details.
Cryptocurrency Statement from SEC Chairman
SEC Chairman Gary Gensler once again drew attention today with a statement. In his remarks, Gensler emphasized that many cryptocurrencies fall under the legal definition of securities. On the other hand, addressing the investor side, Chairman Gensler mentioned that investors are not receiving the explanations they need or require. It seems Gensler is trying to justify himself here, lamenting that he is making statements but not receiving the necessary support.
Following the statement, of course, all eyes immediately turn to Bitcoin, the flagship of cryptocurrencies. Looking at the price of Bitcoin, we see that BTC is trading at $63,619. BTC did not react negatively to this statement. It is also worth mentioning that BTC rose to $64,422 around noon. Before the statement, BTC had already pulled back to around $63,250. We see a recovery in the BTC price.
