Brian Armstrong, CEO of Coinbase, shared Gary Gensler’s comments on cryptocurrencies in 2018.
Brian Armstrong published the 2018 cryptocurrency comments from SEC chairman Gary Gensler. The SEC chief considers three-quarters of cryptocurrencies to be non-securities in these videos.
Brian Armstrong Comments on Former Statements by SEC Chairman Gary Gensler
Coinbase CEO Brian Armstrong shared a 2018 video of SEC Chairman Gary Gensler describing three-quarters of the crypto market as non-securities.
Another old video where Gensler lectures on cryptocurrencies at the Massachusetts Institute of Technology has garnered quite a bit of attention this week. In the 42-second video, SEC chairman Gensler said that a large portion of the crypto market is commodities, not securities.
Gensler used the following phrases in the video:
“We already know that in the US and many other jurisdictions, three quarters of the market are not ICOs or what might be termed securities. Three quarters of the market is non-securities. It’s just a commodity, a cash crypto.”
Gensler’s team has referred to cryptocurrencies as securities in some recent lawsuits. However, Armstrong tweeted one word.
— Brian Armstrong (@brian_armstrong) April 26, 2023
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