Gary Gensler says “Bitcoin” is not a security!

In a recent conference, Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), stated that Bitcoin is not a security. However, he refused to classify it as a commodity, leaving it in a regulatory gray area. Gensler explained that while Bitcoin has some characteristics of a commodity, such as being a store of value, it also has features of a currency and a payment system. As a result, he believes it does not fit neatly into existing regulatory frameworks. This statement comes as the SEC continues to grapple with how to regulate the cryptocurrency market.