• Gary Gensler, the U.S. Securities and Exchange Commission (SEC) chair, was featured in a video from 2018 stating that four major cryptocurrencies— Bitcoin (BTC), Ether (ETH), Litecoin, and Bitcoin Cash— are “not securities”.
• Gensler is now more strict on his stance towards crypto assets as SEC chair, with the regulator filing lawsuits against at least 68 cryptocurrencies labeling them as securities.
• In April 2021, Gensler was pressed for his opinion on whether ETH is security or not before a U.S. House Committee but he refused to answer.
Gary Gensler’s Stance on Cryptocurrencies
A newly surfaced video featuring Gary Gensler from 2018 has made the rounds on social media, showing the now-chair of the United States securities regulator again stating that multiple cryptocurrencies are “not securities”. On June 12 multiple Twitter accounts shared the video, which is understood to come from a 2018 event hosted by Bloomberg for institutional investors. In it he says: “Over 70% of the crypto market is Bitcoin, Ether, Litecoin, Bitcoin Cash. Why did I name those four? They’re not securities” when referring to these popular digital currencies. At this time Gensler was a professor at Massachusetts Institute of Technology (MIT).
Genser’s Strict Crypto Regulations As SEC Chair
Fast forward two years later and Gensler is now in charge of regulating digital assets as Chairman of the Securities and Exchange Commission (SEC). His views have become more strict since then; initiating enforcement action against many different cryptocurrency projects labeling them as securities in various lawsuits — though none of the four mentioned in his 2018 speech being included on this list yet. Furthermore when asked about Ethereum’s status before a U.S House Committee in April 2021 he refused to answer directly leaving people speculating its classification under current laws and regulations..
More Videos From MIT Showing Leniency Towards Cryptocurrencies
Videos taken around his time at MIT have also surfaced this year showing him making similar comments about cryptos being excluded from security regulations such as one recorded in 2019 calling Algorand “an incredible project” but added that “the token itself isn’t likely a security”. This shows that although he holds an authoritative role over digital asset regulation he still sees potential investment opportunities within certain areas of crypto space away from legal scrutiny allowing people to take advantage outside regulated markets potentially..
Genser’s Unclear Position Towards Cryptocurrency Regulation
While it appears clear that Genser has shifted views since his time at MIT due to changing roles within government institutions it appears overall unclear what stance he will take regarding general cryptocurrency regulation moving forward especially with regards to Ethereum which remains an area of confusion without any solid conclusion yet given its past associations with ICOs during 2017/2018 period..
In conclusion Gary Genser’s position towards cryptocurrency regulation remains uncertain despite recent videos surfacing online showing lenient remarks regarding certain coins such as Ether back when he was still teaching at MIT suggesting perhaps some underlying personal admiration for technologies progress regardless if they fall within regulatory frameworks or not..