SEC Chairman Gary Gensler made a series of comments related to the cryptocurrency market today on CNBC. Regarding the recently approved Ethereum 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 may imply a slow process for the S-1 approval, indicating that the Ethereum spot ETF may take longer to start trading. Alternatively, this could also be seen as a positive sign, as it shows that the SEC is still progressing with the S-1 filing rather than outright rejecting it.
Furthermore, Alexander Grieve, the head of public policy at venture capital firm Paradigm, pointed out that Gary Gensler modified his previous statement during the interview, changing from “all tokens are securities” to “tokens lack proper disclosure.” This seems to indicate a softening of Gary Gensler’s tough stance on cryptocurrencies.
When discussing the cryptocurrency market, Gary Gensler also mentioned that traditional financial securities exchanges act as intermediaries and do not act as counterparties to investors, while cryptocurrency exchanges are doing things that are never allowed by the law for the New York Stock Exchange or traditional exchanges.
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