SEC Chair Gensler Calls Bitcoin a Speculative, Volatile Asset Amid ETF Approval
The Securities and Exchange Commission (SEC) today approved the trading of the first-ever spot Bitcoin exchange-traded funds (ETFs). However, SEC Chair Gary Gensler, emphasized that this “does not approve or endorse Bitcoin,” calling it a “speculative, volatile asset” used for illicit activities. Gensler’s approval comes after a years-long regulatory battle with the crypto industry. For...