Ethereum (ETH) advocates have reacted after the United States Securities and Exchange Commission (SEC) Chairman Gary Gensler refrained from labeling the coin a commodity – and instead chose to name bitcoin (BTC) among the tokens the SEC chiefs before him deemed a non-security. He, however, contrary to many reports, did not single out bitcoin as 'the only' commodity.
In an interview with CNBC’s Jim Cramer, Gensler stated:
“Some, like bitcoin – and that’s the only one, Jim, I’m going to say, because I’m not going to talk about any one of these tokens, my predecessors and others have said – they’re a commodity.”
Gensler stated that "bitcoin and hundreds of other tokens" are a part of a "highly speculative asset class." He further added that some “crypto financial assets have the key attributes of a security,” saying that in the case of many tokens, “the investing public is hoping for a return” on their stakes.
He argued that,
"Right now, you have hundreds, if not thousands, of these...
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