Gary Gensler’s Bitcoin ETF position is ‘inconsistent’… says Gary Gensler

Gary Gensler erstwhile criticized the United States securities regulator for its “inconsistent” attack to spot Bitcoin (BTC) products, according to a resurfaced video of Gensler from 2019.

The video clip, which has precocious made the rounds again connected societal media, shows the pre-SEC Gensler discussing blockchain regularisation astatine the 2019 MIT Bitcoin Expo successful a fireside chat with Securities and Exchange Commission (SEC) commissioner Hester Peirce.

“Bitcoin futures, and I deliberation Ethereum futures and truthful forth, volition beryllium and Bitcoin ETFs person not and that feels a small inconsistent to maine [...]It feels a small inconsistent,” Gensler said.

“Even though the laws aren’t precisely the same, they’re rather similar,” helium added.

Meanwhile, connected X (Twitter), the crypto assemblage couldn’t assistance but item the opposition with Gensler’s views toward spot Bitcoin ETFs today.

​​​​”​​Gary Gensler says Gary Gensler is wrong,” marketplace expert Zack Voell posted. “We missed retired connected chill and mean Gensler,” different X idiosyncratic remarked.

Gary Gensler says Gary Gensler is wrong. pic.twitter.com/sHGzHcUyIC

To date, the SEC has lone approved Bitcoin and Ethereum futures ETFs.

Related: Ripple CEO criticizes erstwhile SEC Chair Jay Clayton’s comments

From as acold backmost arsenic 2017 the SEC has rejected spot Bitcoin ETF applications, a contented carried connected nether Gensler who has denied, delayed oregon pushed back caller spot Bitcoin ETF applications claiming the funds don’t person protections for marketplace manipulation.

Gensler’s SEC was sued by plus manager Grayscale for rejecting its bid to person its existing Bitcoin spot into a spot ETF.

A court ruled the SEC was “arbitrary and capricious” to cull the application. The SEC did not appeal the decision.

Magazine: Crypto regularisation — Does SEC Chair Gary Gensler person the last say?