Bitcoin

Gary

<p>The SEC Chairman, Gary Gensler, recently stated that Bitcoin is not considered a security. This statement comes amidst increasing pressure from lawmakers and the crypto industry, who are calling for more regulatory clarity.</p>
<h2 id="h-bitcoin-confirmed-as-a-commodity-by-gary-gensler">Bitcoin Confirmed as a Commodity by Gary Gensler</h2>
<p>Gensler emphasized that both he and his predecessor have always maintained this position. According to him, Bitcoin is classified more as a commodity, which distinguishes it from other digital assets that may be considered securities. This distinction is crucial as it determines <a href="https://www.cointribune.com/en/good-news-or-trap-the-usa-wants-to-classify-cryptocurrencies-as-traditional-currencies/" target="_blank" rel="noopener noreferrer nofollow">the applicable regulatory framework</a> and the disclosure obligations for companies and investors.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>One of the reasons why Bitcoin is not considered a security is its decentralized nature. Unlike other cryptocurrencies, there is no central entity or group of people who control Bitcoin or benefit directly from it. This makes it more similar to assets like gold or silver, which are also classified as commodities.</p>
<p>Gensler also mentioned that investors can now buy Bitcoin via ETFs traded on Nasdaq and NYSE. These ETFs offer a new access route for traditional investors looking to gain exposure to <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> without directly managing cryptocurrencies.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitpanda.pxf.io/c/2801338/1295465/15871" target="_blank" rel="noopener noreferrer nofollow">Discover the Bitpanda platform</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-investor-protection-a-priority-for-the-sec">Investor Protection, a Priority for the SEC</h2>
<p>Gensler stressed that the rest of the crypto sector remains under strict surveillance. He emphasized the importance of investor protection and the need to build confidence in financial markets. According to him, many cryptocurrency companies try to evade regulation by claiming it doesn’t exist, while in reality, clear rules are already in place.</p>
<p>Gary Gensler’s position on Bitcoin provides some clarity in a regulatory landscape often perceived as murky. By recognizing Bitcoin as a commodity and promoting <a href="https://www.cointribune.com/en/bitcoin-etfs-attract-billions-investors-are-getting-excited/" target="_blank" rel="noopener noreferrer nofollow">ETFs</a>, he paves the way for broader adoption while maintaining strict vigilance over the rest of the cryptocurrency sector.</p>

Gary Gensler Clarifies: Bitcoin Is Not A Security… But A Commodity!

Table of Contents

Cointribune EN

Other articles published on Sep 26, 2024

Singapore Court Grants WazirX Four-Month Conditional Moratorium Following $230M Exploit

PropFi Revolution: Secure Capital for Traders and Share in the Profits

This DeFi Blockchain is Disrupting Robinhood and Binance (BNB) By Merging Stocks and Crypto; $2.8...

Semiconductors shortages loom on surge in AI demand

🗒 Daily Newsletter | Thursday, September 26, 2024

Empower Your Online Experience: Qubetics Redefines Internet Privacy with a Decentralised VPN!

Join our free newsletter for daily crypto updates!