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SEC Chair Gary Gensler reiterated his position on Bitcoin, affirming it is not a security<\/p>\n<\/div>\n<\/div>\n
During a Wednesday hearing before the Financial Services Committee, Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), has clarified<\/a> his stance on Bitcoin, stating it is not a security in response to questions posed by the Republican committee chair Patrick McHenry. \u00a0\u00a0<\/p>\n Gensler<\/a>, elaborating on his stance, highlighted that Bitcoin does not meet the requirements of the Howey test, emphasizing its distinction from securities. He did, however, refrain from explicitly categorizing Bitcoin as a commodity.<\/p>\n Gensler has previously discussed the classification of cryptocurrencies like Ethereum (ETH). During an interview<\/a> with New York Magazine, he implied that it could be considered a security.\u00a0<\/p>\n However, he has been reluctant to comment explicitly on Ethereum\u2019s status has bred speculation and discussions about the legalities surrounding various cryptocurrencies.\u00a0<\/p>\n On a humorous note, Congressman Ritchie Torres questioned<\/a> the nature of transactions involving tokenized Pokemon cards during the hearing.\u00a0<\/p>\nGensler’s views on other coins\u00a0<\/h2>\n
The Pokemon card conundrum \u00a0<\/h2>\n