.GaryGensler has hinted that Ethereum could be classified as a security
Gensler had previously suggested that Ethereum could be classified as an unregistered security in 2018 while teaching at MIT.
The SEC boss has previously criticized cryptocurrency projects that tried to masquerade as something else to avoid registering with the SEC. He argued that many cryptocurrency projects that are securities are trying to claim they are not, which he believes to be unfortunate. Despite the criticism the regulatory agency has faced for being seemingly out of step with modern technologies, Gensler maintained that the basic idea of raising money from the public and providing them with basic disclosures should remain in place, even for crypto tokens.
According to Gensler, it is important to bring innovation into securities laws while ensuring that the public still receives basic protections.
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