{"id":13017,"date":"2022-06-28T20:32:52","date_gmt":"2022-06-28T20:32:52","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-is-a-commodity-and-thats-the-only-one-im-going-to-say\/"},"modified":"2022-06-28T20:32:52","modified_gmt":"2022-06-28T20:32:52","slug":"bitcoin-is-a-commodity-and-thats-the-only-one-im-going-to-say","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-is-a-commodity-and-thats-the-only-one-im-going-to-say\/","title":{"rendered":"Bitcoin Is a Commodity And &#8216;That&#8217;s the Only One I&#8217;m Going to Say&#8217;"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), told Mad Money host Jim Cramer on Monday that <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">Bitcoin<\/a> is a commodity.<\/p>\n<p>Appearing on the CNBC network show, the SEC Chairman clarified his position on cryptocurrencies and in particular Bitcoin. Furthermore, he emphasized that the SEC, the Commodity Futures Trading Commission (<a href=\"https:\/\/igaming.org\/crypto\/cftc-chairman-says-bitcoin-and-ether-are-commodities\/\">CFTC<\/a>), and banking regulators will work together closely to monitor the crypto sector.<\/p>\n<p>When asked about cryptocurrency, Gensler said:<\/p>\n<blockquote>\n<p>\u201cThis is a highly speculative asset class. We\u2019ve known this for a long time.\u201d<\/p>\n<\/blockquote>\n<p>Furthermore, detailing the <strong>\u201cups and downs of this speculative asset class,\u201d<\/strong> he noted that \u201cjust like when they invest in other financial assets\u201d that are securities, people are hoping for a return when they invest in \u201cBitcoin and hundreds of other crypto tokens.\u201d<\/p>\n<p>The chairman continued and made it clear that many crypto assets are showing <strong>\u201ckey attributes of a security.\u201d<\/strong><\/p>\n<p>Nevertheless, Gensler said:<\/p>\n<blockquote>\n<p>\u201cSome of them \u2026 are under the Securities and Exchange Commission. And some \u2026 like Bitcoin, and that\u2019s the only one I\u2019m going to say \u2026 are commodities.\u201d<\/p>\n<\/blockquote>\n<p>The SEC haed also commented on the SEC\u00a0collaborating\u00a0with other regulators to oversee the crypto sector, emphasizing that there are currently a lot of crypto tokens that are non-compliant. About <a href=\"https:\/\/igaming.org\/crypto\/stablecoins-are-the-poker-chips-of-the-crypto-wild-west-sec-gary-gensler-says\/\">stablecoins<\/a>, Gensler said:<\/p>\n<blockquote>\n<p>There\u2019s work to be done there around stablecoins \u2026 There\u2019s a lot of work to be done to really protect the investing public.<\/p>\n<\/blockquote>\n<p>Last week SEC Chairman <a href=\"https:\/\/igaming.org\/crypto\/sec-chairman-cautions-for-too-good-to-be-true-crypto-products\/\">warned investors<\/a> about crypto lending platforms with products that seem too good to be true. Just this week, Brad Garlinghouse, CEO of Ripple Labs, called hypocrisy when he <a href=\"https:\/\/igaming.org\/crypto\/sec-arbitrarily-approved-coinbases-ipo-while-it-listed-xrp-brad-garlinghouse\/\">accused the regulator of randomness<\/a> when applying its policies to different players in the crypto industry.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/gary-gensler-bitcoin-is-a-commodity-and-thats-the-only-one-im-going-to-say\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), told Mad Money host Jim Cramer on Monday that Bitcoin is a commodity. Appearing on the CNBC network show, the SEC Chairman clarified his position on cryptocurrencies and in particular Bitcoin. Furthermore, he emphasized that [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13017"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=13017"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13017\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/13018"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=13017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=13017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=13017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}