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Regulation news
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Bitcoin is a speculative and volatile store of value, Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), told CNBC, adding that “a lot of crypto tokens — I won’t call them cryptocurrencies for this moment — are indeed securities.” Yesterday, Gensler told lawmakers that crypto investors are currently not protected when trading on exchanges. “There’s a lot of authority that the SEC currently has in the securities space and there are a number of cryptocurrencies that fall within that jurisdiction,” Gensler said, clarifying that BTC does not fall under this umbrella, as it is considered a commodity and not a security.