Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), during an interview in Washington, DC, US, on Thursday, July 27, 2023.
Gensler was faced with the difficult task of explaining why the SEC has reversed its position on bitcoin ETFs.
Circuit held that the commission failed to adequately explain its reasoning when it turned down Grayscale's proposed bitcoin ETF.
In large part, the conflicts are based on his claim that most crypto assets are securities that come under the purview of the SEC.
While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin."
Persons:
Gary Gensler, Gary Gensler's, Gensler, Grayscale's, I've, —, bitcoin
Organizations:
US Securities and Exchange Commission, SEC, Securities, Exchange, U.S, Appeals, Investment
Locations:
Washington , DC