The Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, made a series of comments related to the cryptocurrency market today on CNBC. Regarding the recent approval of Ether spot ETFs, Gary Gensler mentioned that the next step in the approval process (the S-1 filing) will take some time. Fox reporter Eleanor Terrett suggested that this may imply a slow approval process for the S-1, meaning that Ether spot ETFs will take longer to be listed for trading. However, this could also be seen as positive news, as it indicates that the SEC is still progressing with the S-1 filings rather than outright rejecting them.
Furthermore, Alexander Grieve, the head of public policy at the venture capital firm Paradigm, noted that Gary Gensler altered his previous stance during the interview, shifting from “all tokens are securities” to “tokens lack adequate disclosure.” This change appears to suggest a softening of Gary Gensler’s tough stance on cryptocurrencies.
When discussing the cryptocurrency market, Gary Gensler also mentioned that traditional financial exchanges are subject to regulations and do not act as counterparties to investors, whereas cryptocurrency exchanges are doing things that New York Stock Exchange or traditional exchanges are never allowed to do.
