Gary Gensler labels most cryptocurrencies as high-risk assets except Bitcoin
Former chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, stated in an interview that all cryptocurrencies except Bitcoin are high-risk and speculative assets. This comment is significant for investors and regulators as it shapes the approach to various crypto assets.
Source CryptoSlate
Gensler emphasized that Bitcoin is more akin to a commodity from a regulatory standpoint, while thousands of other tokens require cautious treatment by investors due to heightened risks. This distinction could influence future policies and regulations in the cryptocurrency market.
Going forward, such statements may drive stricter oversight of less mature cryptocurrencies and compel market participants to more carefully assess associated risks.
