Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), made a series of comments related to the cryptocurrency market on CNBC today.
Regarding the recently approved Ether spot ETF, Gary Gensler stated that the next step of approval (the S-1 filing) will take some time. Fox reporter Eleanor Terrett suggested that this might imply a slow approval process for the S-1, meaning that the Ether spot ETF will take longer to be listed for trading. However, this could also be seen as a positive sign that the SEC is still progressing with the S-1 filing, rather than outright rejecting it.
In addition, Alexander Grieve, Public Policy Lead at the venture capital firm Paradigm, pointed out that Gary Gensler changed his previous language during the interview from “all tokens are securities” to “tokens lack proper disclosure”, indicating a potential softening of Gensler’s tough stance on cryptocurrencies.
When discussing the cryptocurrency market, Gary Gensler also stated that traditional financial securities exchanges are regulated, do not act as counterparties to investors, and that cryptocurrency exchanges are doing things that New York Stock Exchange or traditional exchanges are never allowed to do.
