TechFlow news — According to CoinDesk, SEC Chair Gary Gensler declined on Wednesday to outline any plans regarding spot bitcoin ETFs during the Securities Enforcement Forum in Washington. He said he would "let it play out" and refrain from prejudging the matter until staff present recommendations to the five-member commission. When pressed for any guidance on potential timing or sequencing, Gensler objected.
Gensler also declined to comment on other court cases his agency has brought against cryptocurrency firms. "I’ll let each crypto trading case stand on its own merits, and those arguments will be presented before jurists," he said.
Gensler attended the event to deliver remarks on SEC enforcement, during which he filled his speech with criticism of the crypto industry, frequently reiterating that the sector is "rife with non-compliance."
"Crypto globally might be a trillion dollars, but less so in the U.S., where it represents less than one percent of the U.S. capital markets—this topic has been overhyped by the industry," Gensler said.
