Gary Gensler reiterated his position: most cryptocurrencies are subject to securities laws

ChainCatcher News, ahead of the hearing by the U.S. House Financial Services Committee, SEC Chairman Gary Gensler seems likely to reiterate his previous stance taken during the Senate Banking, Housing, and Urban Affairs Committee hearing. In his testimony, he stated: "Most crypto tokens are subject to securities laws."

Additionally, he issued a notice to remain silent regarding ongoing litigation (the XRP and Grayscale spot ETF conversion rulings). Gensler mentioned that while he appreciates the interest in the SEC's work, he cannot comment on any ongoing litigation. When asked about the SEC's actions so far regarding the approval of a spot Bitcoin ETF, Gensler stated that he is working with agency officials on the matter.

Previous news, Gary Gensler will testify on SEC oversight issues at the U.S. House Financial Services Committee hearing on September 27 at 10:00 PM.