Chairman of the U.S. SEC: Reiterates that Bitcoin is not a security, emphasizing that existing laws give the SEC the power to regulate cryptocurrencies

Recently, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), reiterated in an interview that Bitcoin is not a security and that investors can now express their views on Bitcoin through ETF products. Gensler declined to comment on Trump's proposed U.S. Bitcoin strategic reserve plan, saying it was due to his duties and election season. He insisted that existing laws give the SEC the power to regulate the cryptocurrency sector, and said that "not liking the rules is not the same as having no rules." Gensler also pointed out that the cryptocurrency industry faces challenges in building trust, and many industry leaders have been jailed or bankrupt. He emphasized that without investor protection and trust building, it is difficult for the innovation sector to survive. (Coindesk)