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SEC Chairman Gary Gensler appeared on CNBC's Squawk Box today. Gensler made important statements regarding Bitcoin and cryptocurrencies.
Stating that the cryptocurrency sector has experienced many problems due to fraud cases, Genler reiterated that Bitcoin is not a security and said:
“The cryptocurrency industry is struggling with a lot of scammers in the field.
I'm talking about the crypto industry. Look, not liking the rules doesn't mean there aren't rules.
Bitcoin is not a security.
My predecessor and I said Bitcoin is not a security. Now there is a way to invest in it through ETFs.”
Gensler also spoke about the famous billionaire cryptocurrency supporter Mark Cuban's request to be the SEC chairman if Kamala Harris becomes president, saying, “I am honored to be in this job, and if Mr. Cuban wants this job, it is because it is one of the best jobs in Washington.”
The richest man in the world, Elon Musk, has harshly criticized Mark Cuban, who has requested the position of SEC chairman instead of Gray Gensler if Kamala Harris becomes the next US President.
"I feel honored to be in this job and if Mr. Cuban wants the job, it's because it's one of the best jobs in Washington," says @GaryGensler, Chair @SECGov, about @mcuban. pic.twitter.com/tQFePnS8M8
— Squawk Box (@SquawkCNBC) September 26, 2024
*This is not investment advice.