Some, Like Bitcoin....They're A Commodity Says SEC Gary Gensler

On June 27th, the SEC Chair Gary Gensler, went live on CNBC the Squawk On the Street, talked about Bitcoin and the thousands of Cryptos. His interview also comes just before the SEC is to make a final decision on the Grayscale Bitcoin Spot ETF by July 6th.

“Many of these financial assets, crypto financial assets have the key attributes of a security. Some, like Bitcoin, and that’s the only one I’m gonna say…my predecessors and others have said, they’re a commodity." " - Gary Gensler

He provided again some clarity that Bitcoin and Bitcoin-like digital assets are commodities. He refused to mention which ones are Bitcoin-like, but previously he has stated that Litecoin is also most likely a commodity. Watch below:

He has stated that both Bitcoin and Litecoin came into existence as mining began as an incentive in a distributed token platform, no initial token offering, no pre-mine coins and therefore are deemed commodities.