TechFlow reports, in a 2018 video, SEC Chair Gary Gensler told institutional investors that Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are not securities. The release of this video has drawn widespread reactions, as Gensler recently stated that all cryptocurrencies except Bitcoin are securities.
This highlights a shift in the current SEC chair’s stance on the legal status of the cryptocurrency market. While Gensler's 2018 comments may not be legally binding, they could anger many in the crypto industry and holders who have claimed that Gensler failed to provide clear guidance on the legality of specific tokens.
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