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U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has detailed why he considers all crypto tokens other than bitcoin as securities. While acknowledging that crypto tokens may have different setups, he stressed that \u201cat the core, these tokens are securities.\u201d<\/strong>\n<\/p>\n \n Gensler believes that the securities watchdog has all of the legal tools needed to oversee the crypto sector, the publication conveyed, adding that the SEC boss explained that pretty much every sort of crypto transaction already falls under the SEC\u2019s jurisdiction except spot transactions in bitcoin itself and the actual purchase or sale of goods or services with cryptocurrencies.<\/p>\n The SEC chairman was quoted as saying:\n<\/p>\n Everything other than bitcoin \u2026 you can find a website, you can find a group of entrepreneurs, they might set up their legal entities in a tax haven offshore, they might have a foundation, they might lawyer it up to try to arbitrage and make it hard jurisdictionally or so forth.<\/p>\n<\/blockquote>\n \n But at the core, these tokens are securities because there\u2019s a group in the middle and the public is anticipating profits based on that group.<\/p>\n<\/blockquote>\nSEC Chair Believes All Crypto Tokens Other Than Bitcoin Are Securities<\/h2>\n
\nThe chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, explained why he believes all crypto tokens other than bitcoin are securities in an interview published Thursday by New York Magazine\u2019s Intelligencer<\/a>.<\/p>\n\n
\n\u201cThey might drop their tokens overseas at first and contend or pretend that it\u2019s going to take six months before they come back to the U.S.,\u201d Gensler continued, without naming specific cryptocurrencies. He emphasized:\n<\/p>\n\n