Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), discussed cryptocurrencies at the House Democrat event.
Gensler spoke to the House Financial Services Committee Democrats on Feb.
Gensler focused heavily on crypto assets in his speech. The SEC chairman began his speech by comparing it to the rise in subprime mortgages that led to the 2007-2008 financial crisis.
Gensler emphasized that digital assets are more centralized than they should be, and said, “Most of these tokens are securities.”
Other speakers at the event included Bryan Deese, Director of the National Economic Council, Sandra Thompson, Deputy Director of the Federal Housing Finance Agency, and Rohit Chopra, Director of the Consumer Financial Protection Bureau.
The head of the SEC has argued since taking office that it should be when cryptos receive more oversight.
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