Gensler Confirms Bitcoin (BTC) Is Not a Security Under SEC Rules[embed]https://www.youtube.com/watch?v=Rl628OFEGWA[/embed]

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        <li>US SEC Chair Gensler reiterates Bitcoin (BTC) is classified as a non-security under current rules.</li>
        <li>SEC is set to introduce new regulations for DeFi and trading systems aimed at protecting investors.</li>
        <li>Crypto companies, including Coinbase, are expressing concerns over an expanded regulatory framework.</li>
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    <p>Recently, SEC Chairman Gary Gensler has emphatically stated that Bitcoin is categorized as a non-security under existing SEC regulations. These remarks were made during an interview on CNBC's "Squawk Box."</p>
    <p>Gensler highlighted the necessity of clear regulations, arguing that although many firms have gained from the rising public interest in cryptocurrencies, they often resist the regulations put in place to maintain market integrity.</p>
    <p>During the interview, Gensler asserted that the SEC's mission is to promote confidence in the market, remarking, "Innovations cannot foster in the long term unless trust is established." He pointed to the substantial losses and bankruptcies in the crypto industry, underscoring the critical need for regulations to safeguard investors.</p>
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    <p>Despite Gensler’s reaffirmation concerning Bitcoin, he recognized the frustrations of crypto companies regarding current regulatory structures. He noted that many industry participants oppose the need for such regulations, attributing this sentiment to their unease with the enforcement actions taken by the SEC.</p>
    <p>Significantly, Gensler’s comments come in the wake of the recent eToro settlement, which confirmed that Bitcoin (BTC), alongside Bitcoin Cash (BCH) and Ethereum (ETH), are not classified as securities.</p>
    <h2>SEC’s trading systems proposal</h2>
    <p>Previously, Gary Gensler, while <a href="https://youtu.be/V3oj0DgjiNM?si=iFOVn6s1tKsBbtQK">testifying</a> before the US House Financial Services Committee, elaborated on the SEC's <a href="https://www.sec.gov/files/rules/proposed/34-39884.pdf">proposal</a> that would require alternative trading systems to decide whether to register as national securities exchanges or as broker-dealers, adhering to additional stipulations under the proposed Regulation ATS based on their operations and trading volume. This proposal seeks to eliminate regulatory loopholes among trading platforms, ensuring compliance with rules designed to prevent unfair trading practices.</p>
    <p>Nonetheless, the proposed regulations have encountered considerable resistance from digital-asset firms, including Coinbase, which argue that the proposed definition of an exchange could unintentionally encompass DeFi platforms, making compliance challenging.</p>
    <p>As the SEC continues to chart a course through the intricate world of cryptocurrency regulation, Gensler reaffirmed the agency’s dedication to fostering a transparent market.</p>
    <p>With no timeline established for final decisions on the trading systems proposal, the SEC remains willing to entertain applications from exchanges that wish to provide central clearing for the US Treasury market, which is anticipated to undergo significant expansion under new regulations.</p>

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