SEC boss Gary Gensler described BTC and ETH in 2018 as no securities.

SEC boss Gary Gensler described BTC and ETH in 2018 as no securities.
A new video from 2018 showed that the current chairman of the US stock exchange supervisor SEC (Securities and Exchange Commission)-Gary Gensler-classified several cryptocurrencies, including Bitcoin (BTC) and Ether (Eth) as "no securities".
His attitude of almost five years ago is in contrast to its current vision. Gensler has argued several times that BTC is the only digital asset that could be categorized as a goods.
Gensler's opinion before his appointment as the Sec chairman
The video that went viral on Twitter shows, as Gensler says that four of the leading cryptocurrencies-Bitcoin (BTC), Ether (Ether), Litecoin (LTC) and Bitcoin Cash (BCH)-should not be treated as securities.
Chairman Gensler in 2018 at a Bloomberg conference in NYC:
"Bitcoin. ether. Litecoin. Bitcoin-bargeld. Why did I name these four?
What will Goldman Gary say? Deep fake? pic.twitter.com/p7djlykjit
- Ryan Selkis 🪳 (@Twobitiot) 12. June 2023
The video dates from 2018 when Gensler was chairman of the Maryland Financial Consumer Protection Commission. In 2021 he was appointed chairman of the SEC-a US government authority that regulates and monitored the securities markets.
The agency is also known for its hard approach to the cryptocurrency industry and recently submitted complaints against two of the heavyweights of the industry- Binance coinbase . The main allegations are that they have offered trade services with unregulated securities such as BNB, SOL, ADA, Matic and other known assets.
It is worth noting that the agency in its complaints did not touch the four cryptocurrencies that Gensler described in 2018 as "no securities".
BTC is a goods and embarrassing silence compared to ETH
Shortly after joining the SEC, Gensler changed his attitude to the cryptocurrency universe. The American who was affectionate to the market in the summer of 2021, later called It was "highly speculative" and said that he never had digital currencies.
He also claims several times that "anything but Bitcoin" is a securities, while the primary cryptocurrency is the only one that acts as the goods.
In contrast to BTC, Gensler was quite unclear with regard to the status of the ETH. He avoided a direct answer to whether the second largest crypto-asset should be classified as goods or securities in early 2022.
Gensler did the same as preserver-spaces = "true"> from the financial services committee of the House of Representatives in April of this year. Instead, he gave inaccurate answers to Patrick Mchenry's repeated questions without giving any details.
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