SEC Chairman: Bitcoin Has “the key attributes of a security and that’s the only one”

The chairman of the U.S. SEC, Gary Gensler, pointedly declined to name any cryptocurrency other than the original one, notable because the market has been operating under the assumption that there is a sort of wink-and-nod understanding that ether is also not a security.

“Many of these financial assets, crypto assets, have the key attributes of a security… some like bitcoin, and that’s the only one, Jim, I’m going to say, because I’m not going to talk about any of these tokens, my predecessors and others have said they’re a commodity,” Gensler said.