Gensler reaffirms the uniqueness of Bitcoin while other cryptotokens remain under scrutiny
15:30 ▪ 5 min read
Former SEC Chairman Gary Gensler reignited the debate over digital assets in an interview with Bloomberg, stating that Bitcoin stands out from the rest of the cryptocurrency market. He warned that most tokens remain speculative bets with little backing to their valuations, which has encouraged investors to be cautious.
In brief
Gensler claims that Bitcoin stands out and that most tokens rely on speculation without solid backing or clear economic support.
Stablecoins linked to the US dollar are considered the only assets with consistent support, raising doubts about other tokens.
The request submitted to Gensler included significant actions aimed at platforms accused of operating without registration.
He rejects any partisan approach, stating that oversight of cryptocurrencies focuses on fair markets and equal access for everyday investors.
Former SEC official highlights the persistent risks of tokens that are not Bitcoin
Gensler explained that Bitcoin functions more like a commodity, while most other cryptocurrencies still lack solid fundamentals or clear returns. He added that global enthusiasm around cryptocurrencies has often outpaced prudent analysis. Therefore, this leaves many buyers exposed when markets become volatile.
The former SEC director urged investors to consider what underpins the value of tokens other than Bitcoin. According to him, only a small group of stablecoins linked to the US dollar can claim clear backing.
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