SEC Chairman Gary Gensler was asked about the recent action taken by the agency against Robinhood Crypto, which involved the issuance of a Wells notice. Gensler stated that despite the agency’s issuance of notices to multiple cryptocurrency entities and plans for enforcement actions, investors did not receive important cryptocurrency disclosure.
Gensler mentioned that he was unable to communicate with any specific company and stated, “Stepping back from the specific situation, many of these tokens are, in fact, securities under our law. They may not be labeled as such, but under our law, they are.” He further emphasized that investors did not receive necessary or required disclosures about these assets.
When CNBC asked about whether Ether could be classified as a security or commodity, Gensler did not directly specify how it would be classified.
