Н1 Gary Gensler: Crypto Is not a Security

 

A video of Gary Gensler's speech at a Bloomberg conference sparked a wave of discussion on social media. In a 2018 entry the current SEC chairman firmly stated that “Bitcoin ($BTC), Ethereum ($ETH), Litecoin ($LTC), Bitcoin Cash ($BCH) are not securities.”

The video was released long before Gensler's appointment as chairman of the SEC. However, in his new role Gary argued that all crypto except bitcoin should be considered a security.

The crypto community accuses Gensler of hypocrisy recalling his previous statements and differing views on cryptocurrency. Critics point to contradictions in his position and believe that his new beliefs will have negative consequences for the development and regulation of the cryptocurrency market.

Perhaps Gensler has become an example of how the views of even experienced experts evolve when they get power. However, his past statements continue to raise doubts and serve as an occasion for heated discussions in the crypto community.

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