SEC Chair Gensler Stresses Bitcoin ETF Approval Does Not Signal Endorsement

Gary Gensler reiterates the SEC's cautious stance on cryptocurrencies, emphasizing investor protection and regulatory compliance.

SEC Chair Gary Gensler clarifies that the approval of Bitcoin ETFs in January does not constitute an endorsement of Bitcoin or other cryptocurrencies.
Gensler emphasizes the SEC's role in protecting investors from fraud and market manipulation in the cryptocurrency market.
Despite the approval of Bitcoin ETFs, Gensler remains skeptical about the decentralization of Bitcoin, referring to it as 'just an accounting ledger.'
The SEC's stance on cryptocurrency remains cautious, with Gensler highlighting the use of cryptocurrencies in illicit activities such as ransomware and money laundering.
Future approvals for cryptocurrency-based ETFs, including those for Ethereum, will be considered on a case-by-case basis without prejudgment.