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SEC Chair Gary Gensler says Bitcoin is speculative but likens it to gold

In a recent interview, SEC Chair Gary Gensler compared Bitcoin to gold and highlighted its speculative nature. He emphasized the need for proper disclosures and compliance with securities laws for most tokens besides Bitcoin to protect investors. During his tenure, Gensler approved Bitcoin and Ether ETFs and implemented financial market reforms. However, his approach of relying on enforcement actions rather than clear regulatory frameworks drew criticism from industry participants. Gensler reiterated that the SEC operated within the laws set by Congress to safeguard investors.

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