SEC Chairman Speaks About Bitcoin and Cryptocurrencies! “Is BTC a Security?” Answered the Question!

Bitcoin, which started the day with horizontal movements, rose from $ 26,200 to $ 26,850.

While the reason for Bitcoin’s rise remains unclear, SEC Chairman Gary Gensler spoke before the House Financial Services Committee.

During his speech, Gensler was asked questions by House Financial Services Committee Chairman Patrick McHenry and senators.

McHenry, who criticized Gensler before these questions, said the following to the SEC Chairman:

“Even though you constantly say that the laws are very clear, you are harming investors with your practices.

And you’re getting defeated in the courts.”

Asking a question about Bitcoin, McHenry said, “I asked you about Ethereum in the last meeting. Today I want to ask you about Bitcoin. Why don’t you think Bitcoin is a security? Do you think Bitcoin is a security or not?” said.

Gensler answered this question: “I think Bitcoin is not a security because it does not comply with the Howey test. I think Bitcoin is not a security.”

Gensler also said, “There are many fraudsters and thieves in the cryptocurrency industry. This harms investors.” said.

BTC, which rose before Gensler’s speech, recorded a decrease of around 2% during the speech and fell back to $ 26,200.

*This is not investment advice.