The political landscape in the US experienced a notable shift this week, sparking optimism for the approval of spot Ethereum ETFs. Despite this development, Securities and Exchange Commission (SEC) Chairman Gary Gensler maintains his stance on cryptocurrencies.
In a statement released on Thursday, Gensler reiterated his viewpoint that the majority of cryptocurrencies should be classified as securities. This statement comes amidst expectations for the approval of spot Ether ETFs later in the day.
During his speech, Gensler addressed cryptocurrencies, stating, “There are 15,000 or 20,000 tokens in this space. These are not traded as currency. Without prejudging any of them, they generally have a group of entrepreneurs, and the public looks at whitepapers, looks at websites, looks at these groups of entrepreneurs, and invests based on these groups of entrepreneurs. So this fits the classic Supreme Court test of what a security is.”
He added, “Not all crypto tokens are securities, but again, without prejudice, I believe most are.”
It is important to note that this information is not intended as investment advice.
