SEC Chair Gary Gensler Affirms Bitcoin Not a Security, Highlights ETF Options for Investors

COINOTAG reported on September 27, as covered by Coindesk, that Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), reaffirmed in a CNBC interview that Bitcoin is not categorized as a security. He mentioned that investors now have opportunities to express their positions on Bitcoin through ETF products. Gensler refrained from commenting on Trump’s U.S. Bitcoin strategic reserve proposal, attributing his silence to professional responsibilities and the election period. He stressed that existing laws already empower the SEC to oversee the cryptocurrency industry, asserting that “disagreeing with the regulations doesn’t equate to having no regulations.” Furthermore, Gensler highlighted that the cryptocurrency sector faces significant problems in establishing trust, noting that several leading figures have faced imprisonment or bankruptcy. He underscored the necessity of investor protection and trust-building as essential for the sector’s innovation and sustainability.