SEC Chairman reiterates that Bitcoin is not a security and declines to comment on Trump's Bitcoin reserve plan

ChainCatcher news, according to Coindesk, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), reiterated in an interview with CNBC that Bitcoin is not a security, and investors can now express their views on Bitcoin through ETF products.

Gensler declined to comment on the Bitcoin strategic reserve plan proposed by Trump, citing his responsibilities and the election season as reasons. He insisted that existing laws grant the SEC the authority to regulate the cryptocurrency space, stating that "disliking the rules does not equate to having no rules." Gensler also pointed out that the cryptocurrency industry faces challenges in building trust, as several industry leaders have gone to jail or filed for bankruptcy. He emphasized that without investor protection and trust building, it is difficult for the innovation sector to survive.