This week, SEC Chairman Gary Gensler faced criticism from committee members regarding his biased stance towards cryptocurrencies during the Treasury Market Conference. Republicans openly oppose Gensler’s policies, aware that he is aligned with the opposing team’s interests and is attempting to sway Trump’s cryptocurrency investors. What did Gensler state?
Gensler’s Comments on Cryptocurrencies
In his statements, Gensler reaffirmed that Bitcoin 
$106,329 is not classified as a security under SEC rules. The recent eToro settlement confirmed that BTC, BCH, and ETH are not securities, while the SEC sought to restrict all other cryptocurrencies for US citizens. This also reflects in the approvals for ETFs.
Gensler emphasized the SEC’s role as a “law enforcement” agency, stating that every action taken aims to instill market confidence.
“Innovations do not develop in the long term unless they also build trust. Disliking rules is not the same as denying their existence. Just two years ago, look at some prominent figures in this field. Some are now in prison, and I’m not just talking about SBF. We experienced losses worth tens of billions of dollars and bankruptcies.”
In a recent interview on CNBC’s “Squawk Box,” Gary Gensler made the following statements;
“Regarding Bitcoin, my predecessor and I stated that it is not a security.”
Gensler mentioned that they are working on new regulations for DeFi, noting that exchanges have gaps at the institutional registration point. We may witness an intensification of competition in the DeFi and NFT sectors following altcoins.
Despite all this, BTC continues to find buyers above $65,400.
