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SEC Chair Gensler Reiterates Bitcoin Is Not a Security, Crypto Prices Up

Sep 26, 2024, 01:14 PM

SEC Chair Gary Gensler has reiterated that Bitcoin is not classified as a security. Gensler emphasized that both he and his predecessor have maintained this stance. He also highlighted that investors can now buy into Bitcoin through ETFs traded on Nasdaq and NYSE. Despite this, Gensler did not commit to overturning the SEC rule that prevents highly regulated financial firms from holding Bitcoin and other cryptocurrencies. Crypto prices have risen following Gensler's statement. Additionally, Gensler criticized the broader crypto market as being filled with fraudsters, schemers, and grifters.