Pokemon

Chair

Bitcoin

Gary

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<p>During a Wednesday hearing before the Financial Services Committee, Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), has <a href="https://twitter.com/FinancialCmte/status/1707096968357364053" rel="noopener noreferrer nofollow">clarified</a> his stance on Bitcoin, stating it is not a security in response to questions posed by the Republican committee chair Patrick McHenry. &nbsp;&nbsp;</p> 
<h2 id="gensler-s-views-on-other-coins">Gensler's views on other coins&nbsp;</h2> 
<p><a href="https://u.today/sec-chair-gary-genslers-hearings-crypto-highlights-details" rel="noopener noreferrer nofollow">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> 
<p>Gensler has previously discussed the classification of cryptocurrencies like Ethereum (ETH). During <a href="https://u.today/sec-boss-hints-that-ethereum-eth-is-a-security" rel="noopener noreferrer nofollow">an interview</a> with New York Magazine, he implied that it could be considered a security.&nbsp;</p> 
<p>However, he has been reluctant to comment explicitly on Ethereum’s status has bred speculation and discussions about the legalities surrounding various cryptocurrencies.&nbsp;</p> 
<h2 id="the-pokemon-card-conundrum">The Pokemon card conundrum &nbsp;</h2> 
<p>On a humorous note, Congressman Ritchie Torres <a href="https://twitter.com/RyanSAdams/status/1707081745357574427" rel="noopener noreferrer nofollow">questioned</a> the nature of transactions involving tokenized Pokemon cards during the hearing.&nbsp;</p> 
<p>Gensler’s response was cautious, stating he would need more information to determine whether purchasing a tokenized <a href="https://u.today/pokemon-nfts-arrived-on-polygon-matic-blockchain" rel="noopener noreferrer nofollow">Pokemon</a> card on a blockchain could be considered a security transaction, even though he affirmed that the sale of a traditional Pokemon card isn't a security.</p>

Bitcoin Is Not Security, Gensler Reiterates

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