US Securities and Exchange Commission (SEC) Chairman Gary Gensler deemed Bitcoin to be the only cryptocurrency he considers a commodity, considering others to be a security. Gary Gensler Calls Bitcoin a Commodity Appearing in an interview with CNBC on Monday with Jim Cramer, the chairman of U.S Securities and Exchange Commission (SEC) Chairman Gary Gensler called Bitcoin (BTC) a commodity but refrained from extending the label to any other cryptocurrencies. “Some, like Bitcoin, and that’s the only one, Jim, I’m going to say because I’m not going to talk about any one of these tokens, my predecessors and others have said, they’re a commodity,” Gensler said in response to a question from Cramer. The previous SEC administration believed that both Bitcoin and Ethereum were commodities. However, he only mentioned Bitcoin in his latest comments and has previously avoided answering questions about Ethereum. Industry Leaders Welcomed Gensler’s View Bitcoin proponents welcome Gensler’s clarification. Digital assets manager Eric Weiss tweeted: “Gensler is the 2nd consecutive SEC Chair to declare that bitcoin is a commodity, making it all but impossible for this classification to be altered in the future. Very significant indeed.” Gensler is the 2nd consecutive SEC Chair to declare that #Bitcoin is a commodity making it all but impossible for this classification to be altered in the future. Very significant indeed. https://t.co/pe6lNPq1E...
