SEC Chairman Gensler reiterates that Bitcoin is not a security

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In a CNBC APPEARANCE Today, SEC Chairman Gary Gensler reiterated that Bitcoin is not classified as a security under SEC guidelines. Gensler pointed to the SEC’s approval of several spot Bitcoin ETFs, which are now traded on the Nasdaq and New York Stock Exchanges, as evidence of Bitcoin’s non-security status.

Despite the Bitcoin exemption, Gensler made it clear that the broader crypto sector is still under close scrutiny. Gensler reiterated that the agency’s actions are meant to instill confidence in the markets.

He emphasized the SEC’s role as an “enforcement agency” and emphasized the need for investor protection, stating that “innovation does not thrive unless it also creates trust.”

When pressed on the crypto industry’s complaints about unclear rules, Gensler responded by saying, “Disliking the rules is not the same as denying that there are rules.” He pointed to the collapse of high-profile crypto firms and the imprisonment of several industry leaders as evidence of the inherent risks in the sector.

In response to questions about the future of Bitcoin and whether it could become more integrated into the global economy, Gensler remained neutral, stating that “the field will have a challenge to build trust.”

He declined to speculate on Bitcoin’s future role in society, but stressed that without strong investor protections, the crypto sector will face difficulties in gaining wider acceptance.

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