Bitcoin price fluctuations are largely related to statements made by SEC Chairman Gensler. Although the institution led by Gensler made a 180-degree turn on the ETH ETF on Monday, the chairman continues to advocate the same points. So, what is he saying in his statements at the time of writing?
SEC Cryptocurrency Statements
Today, after the US markets close, the ETF decision will come, and Gensler is making important statements at the time of writing. Gensler, who still claims that most cryptocurrencies are securities, expressed his disappointment with FIT21 yesterday. However, the bill was sent to the Senate with significant support from Democrats in the House of Representatives.
Gensler says the following;
“There need to be referees on the field in the crypto market. There is a lot of fraud in crypto, and we have achieved significant successes in lawsuits. We cannot say all cryptocurrencies are securities (prejudicially), but most fall under the securities/investment contract category. Our institution will continue to act in accordance with the laws regarding cryptocurrency investment fund applications.”
