Future of the Ethereum Asset is Still Unknown

Gary Gensler, an American government official and the chairman of the Securities and Exchange Commission (SEC), is still silent about Ethereum’s role in the global cryptocurrency industry. SEC Chair has refused to identify Ethereum as a security in the new interview for the global-known media CNBC. Find the hottest cryptocurrency news to stay tuned for updates.

Securities are the tools that specify the ownership of a common project with future profit. The security status of Ethereum assets has been interesting for the latest years. During this time, the industry was criticizing the SEC’s unclear position in the cryptocurrency market. And Gensler was the one who stated that DeFi (Decentralized Finance) tokens could be identified as securities.

One of the dominant topics in the interview was the regulatory status of Ethereum – the leading crypto coin. Gensler said that he wouldn’t talk about any specific crypto asset. The reason for his position is probably SEC’s politics of not being involved in public discussion about any projects.

However, the former SEC Chair – Jay Clayton – was clear about Ethereum. He was sure that the crypto asset wasn’t a security.

Gensler on Bitcoin

Despite Gensler’s unwillingness to discuss his views on Ethereum in the regulation sector, he shared his thoughts on Bitcoin. He’s sure that Bitcoin wasn’t a security back earlier and currently, as well.

In 2018, he said that Bitcoin came when the mining activated as an incentive in validating a distributed platform. Since that time, the SEC has approved the first-ever Bitcoin-related exchange-traded funds.

The fact that Gensler didn’t share his thoughts on other crypto assets is worrying enough for the whole industry.

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