SEC Chairman Says Bitcoin Is A Commodity

 

Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), said that Bitcoin is a commodity.

 

Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), said that Bitcoin is a commodity.

Speaking to CNBC, Gensler stated that Bitcoin is the only cryptocurrency that

“People who invest in these tokens expect a return, just as they do with other financial assets we call securities. Most of these financial assets have the basic characteristics of a security.

Some people like Bitcoin and that's all I can say. My predecessors and others said it was a commodity.”

Gensler said the following on the Squawk Box program he attended:

Gensler stated that this classification gives the CFTC an important role in overseeing the Bitcoin markets.

“There are two major market regulators in this country,” Gensler said, saying that regulatory agencies can work together for market fairness, transparency and investor protection for digital assets.