Gary Gensler Claims Crypto Regulations Exist, Affirms ‘BTC Is NOT A Security’

The post Gary Gensler Claims Crypto Regulations Exist, Affirms ‘BTC Is NOT A Security’ appeared first on Coinpedia Fintech News

SEC Chair Gary Gensler during an interview on CNBC mentioned that crypto regulations exist in the United States. He noted that many firms profited from the public’s interest in crypto without proper disclosures. He claimed that stakeholders in the crypto industry do not like these regulations, which is why they claim they do not exist. Gensler also stated during the interview that Bitcoin is not a security. Earlier, Rep Patrick McHenry had claimed that the Commission needed to focus on capital formation and providing crypto stakeholders with clarity rather than ‘taking ad hoc action to sue people and make headlines.’