The political panorama within the US witnessed a major shift this week, reviving hopes of approval of spot Ethereum ETFs.
Nevertheless, this improvement seems to have had little influence on Securities and Trade Fee (SEC) Chairman Gary Gensler’s stance on cryptocurrencies.
In a press release on Thursday, Gensler reiterated his perception that the majority cryptocurrencies are securities. His remarks come as many anticipate spot Ether ETFs to be authorized later within the day.
Gensler mentioned the next about cryptocurrencies in his speech:
“There are 15,000 or 20,000 tokens on this area. These usually are not traded as foreign money. With out prejudging any of them, they typically have a bunch of entrepreneurs, and the general public appears to be like at whitepapers, appears to be like at web sites, appears to be like at these teams of entrepreneurs, and invests primarily based on these teams of entrepreneurs. So this suits the traditional Supreme Courtroom take a look at of what a safety is.
“Not all crypto tokens are securities, however once more, with out prejudice, I imagine most are.”
*This isn’t funding recommendation.