SEC Chairman Gary Gensler recently declined to comment on Donald Trump's idea to establish a national strategic reserve of Bitcoin. This silence comes in a tense electoral context, where every word from financial regulators can have significant repercussions on the markets.
Gensler avoids the question: what is he hiding on Trump's Bitcoin stash?
During an interview, Gary Gensler emphasized that although Bitcoin is considered a commodity, regulatory clarity exists for the crypto space. He insisted that current laws give the SEC the power to supervise the digital assets sector. “Not liking the rules is not the same thing as saying there are no rules,” he said, in response to criticism of regulation through litigation.
However, when asked for his opinion on Trump's proposal to maintain current government holdings as the core of the National Strategic Bitcoin Reserve, Gensler preferred to remain tight-lipped. “I have an opinion, but given my role and the fact that we are in an election period, I will stick to my priorities, namely the stock markets,” he explained. This Bitcoin reserve proposed by Trump could potentially influence market dynamics, but Gensler chose not to venture into this territory.
The majority of digital tokens are securities!
Aside from Bitcoin, Gensler maintained that the majority of other digital tokens fit the legal definition of securities and therefore fall under the jurisdiction of the SEC. This position remains unchanged despite industry resistance and lawsuits against the SEC. Gensler also expressed concerns about trust in the crypto sector, citing the numerous frauds and bankruptcies that have plagued the industry in recent years.
Finally, Gensler's silence on Trump's proposal leaves doubt about the future of this initiative. Investors and market observers will have to wait to see how this situation develops, especially as the US presidential elections approach.
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