2 years ago
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said that Bitcoin was the lone cryptocurrency helium was prepared to publically statement a commodity.
Gensler made the comments connected CNBC’s Squawk Box, wherever helium discussed the implications of labeling peculiar cryptocurrencies commodities alternatively than securities.
He explained that the investing nationalist was hoping for returns connected cryptocurrencies they put in, conscionable similar they bash with different registered securities.
When it comes to Bitcoin, some Gensler and his predecessors judge that it’s a commodity.
Gensler’s comments could person far-reaching consequences for the crypto industry. As a commodity, Bitcoin would beryllium regulated by the Commodity Futures Trading Commission (CFTC), not the SEC, and acceptable a precedent that could spot different store-of-value cryptocurrencies beryllium labeled “commodities” and taxable to antithetic regulations than securities.
More details to follow.
The station SEC Chairman Gary Gensler calls Bitcoin a commodity appeared archetypal connected CryptoSlate.
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