In his statement today, US Securities and Exchange Commission (SEC) Chairman Gary Gensler refused to make a prediction about the agency's decision regarding Ethereum (ETH) ETFs. But he advised observers to “keep watching themselves.”
Gensler was asked about his institution's response to specific submissions regarding the highly anticipated cryptocurrency decision. He reiterated that a court decision regarding ETFs caused the SEC to reverse its thinking, but did not provide further details about this particular filing.
“We do this within the framework of the law and within the framework of how the courts interpret the law, and I am deeply committed to that,” Gensler said. He noted that the agency is complying with a D.C. Court of Appeals decision earlier this year rejecting the SEC's approach to spot Bitcoin (BTC) ETFs.
Gensler also touched on the crypto bill that passed the House of Representatives on Wednesday, stating that his institution will continue to oppose it. “We will continue to engage,” he said. He expressed concerns that token operators do not make disclosures that investors can benefit from and that are required by law.
Congress's approval of the SEC's crypto accounting policy, Staff Accounting Bulletin No. When asked about wanting to repeal 121 (SAB 121), Gensler argued that the SEC intended it as guidance at a time when failing crypto firms were treating customer assets the same as their own.
In addition, he said that leaders working in the cryptocurrency field may find themselves in prison or in the extradition process if they are in another country.
*This is not investment advice.