Cryptocurrency News

Community reacts after SEC’s Gensler affirms BTC’s commodity status

Community reacts after SEC’s Gensler affirms BTC’s commodity status

Securities and Exchange Commission Chairman Gary Gensler riled up Crypto Twitter (NYSE:TWTR) on Monday after affirming that Bitcoin (BTC) is a commodity. Questions were raised about its impact on Grayscales’ proposed Bitcoin ETF and why Ethereum wasn’t mentioned.

Speaking to Jim Cramer on CNBC’s Squawk Box on Monday, June 27, the SEC chair said while many crypto-financial assets have the key attribute of a security, Bitcoin is the “only one” that he was comfortable publicly labeling as a commodity.

Grayscale Bitcoin ETF

No mention of ETH

Positive for Bitcoin

Source

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