The discussion of whether or not cryptocurrencies are a real asset is still present and in the interview with Gary Gensler, SEC chairman, by CNBC he refused to admit whether Ethereum is a security or not according to Vishal Chawla in Crypto Briefing.
Nonetheless, the SEC chairman reiterated the need to include crypto tokens in the scope of securities regulations. Additionally, the SEC has come under fire for its unclear guidelines on cryptocurrencies in recent months.
In an interview Monday with CNBC Squawk Box, the SEC chairman discussed the securities laws surrounding cryptocurrencies with Andrew Sorkin. When Sorkin challenged him on whether he thought Ethereum could be classified as a security, he deflected the question, noting that he would not talk about a specific crypto asset. "Can you explain your point of view on whether Ethereum is a security or not? I think you actually suggested that it is not, but while you believe that Ripple is a security, and I know there is an ongoing lawsuit related to Ripple, but is it? Could you speak on the subject of Ethereum? Asked Sorkin.
"I'm not going to talk about any particular issue," Gensler told CNBC. He added that the SEC does not "get involved in public forums talking about any project."
Gensler's public stance on crypto number two marks a stark contrast to his predecessor Jay Clayton, who claimed that Ethereum was not a security during his tenure at the SEC.
Securities are instruments that represent ownership in a common company with the expectation of a profit. The question of whether crypto assets like Ethereum can be classified as a security has been a hot topic in recent years as the space has grown. While the SEC has been criticized for its unclear guidance on cryptocurrencies, Gensler has stated on several occasions that DeFi tokens could be classified as securities.
The SEC has also been in a widely publicized legal battle with Ripple after it accused the company of selling unregistered securities since late 2020; it is scheduled to come to an end sometime this year.
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