Gensler, who was newly appointed as the head of the agency opined that “many” cryptocurrency tokens were securities. He remarked:
This is not the first time that the SEC is going after crypto companies that it considers might have sold unregistered securities. While some have been slammed with hefty fines, others were simply forced to leave the U.S.
With Gensler as the new head of the SEC, the crypto community celebrated for a while considering his portfolio as blockchain tech and digital asset educator at MIT. However, back in 2018, he said that Ethereum and Ripple’s XRP could both be considered as an unregistered security.
Speaking about Bitcoin, Gensler described the leading cryptocurrency as scarce and “highly volatile.” He said:
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Source: Cryptocurrency - investing.com
