SEC Chairman Gary Gensler made a series of comments related to the cryptocurrency market today on CNBC. Regarding the recently approved Ether spot ETFs, Gary Gensler stated that the next step in approval (the S-1 filing) will take some time. Fox reporter Eleanor Terrett suggested that this may imply a slow process for S-1 approval, meaning that Ether spot ETFs may 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.
In addition, Alexander Grieve, the public policy lead at venture capital firm Paradigm, pointed out that Gary Gensler modified his previous stance during the interview, shifting from “all tokens are securities” to “tokens lack appropriate disclosures.” This seems to suggest that Gary Gensler’s tough stance on cryptocurrencies has softened.
When commenting on the cryptocurrency market, Gary Gensler also mentioned that traditional financial securities exchanges are intermediaries and do not act as counterparts to investors, while cryptocurrency exchanges are doing things that New York Stock Exchange or traditional exchanges are not allowed to do under the law.
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