SEC Chief: BTC, ETH ‘Not Securities’ in 2018

• SEC Chair Gary Gensler said in 2018 that Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) are “not securities”.
• A recently surfaced video revealed the current Chairman of the US Securities and Exchange Commission’s views on several cryptocurrencies.
• His stance from nearly five years ago contrasts with his nowadays vision, as Gensler has argued several times that the only digital asset which could categorize as a commodity is BTC.

SEC Chief Gary Gensler Called BTC, ETH ‘Not Securities’ in 2018

The SEC Chair said in 2018 that BTC, ETH, LTC, and BCH are “not securities.” A newly-surfaced video that dates back to 2018 showed that the current Chairman of the US Securities and Exchange Commission (SEC) – Gary Gensler – classified several cryptocurrencies, including Bitcoin (BTC) and Ether (ETH), as “not securities.”

Gensler’s View Before Becoming SEC Chair

The video, which went viral on Twitter, reveals how Gensler says four of the leading cryptocurrencies – Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) – should not be treated as securities. Chair Gensler in 2018 at a Bloomberg conference in NYC: “Bitcoin. Ether. Litecoin. Bitcoin Cash. Why did I name those four? They’re not securities.

Contrast With Current Vision

His stance from nearly five years ago contrasts with his nowadays vision. Gensler has argued several times that the only digital asset which could categorize as a commodity is BTC.

Background On The SEC

Gensler was named the Chairman of the SEC in 2021 – a US government agency that regulates and oversees the securities markets. The agency is also known for its harsh actions against the cryptocurrency industry and recently filed lawsuits against two of them.