Securities and Exchange Commission (SEC) Chairman Gary Gensler today remarks that Bitcoin is not a Security, but is best classified as a commodity. It is now clear from the SEC chairman that cryptocurrencies like bitcoin are not securities that ends up probably being a very big tailwind for the most decentralized digital currency in the world.
There’s a lot of major investors all across the financial markets who want to invest in bitcoin and cryptocurrencies but they keep saying i need regulatory clarity in order to actually start to allocate capital to this new industry. One of the questions is; will these assets fall under securities law or will they be treated as commodities.
Gary Gensler, the Chairman of the SEC was on CNBC this morning and he explicitly stated that bitcoin, and only bitcoin is the only asset that he is willing to clearly state is not a security. Bitcoin is a commodity and ultimately what that means is that bitcoin has regulatory clarity.