United States Securities and Exchange Commission (SEC) Chair Gary Gensler found himself criticizing the crypto industry on live television yet again on Wednesday—but this time, the regulator appeared to use markedly softer language as he was asked about potential crypto ETFs ahead.“These tokens… have not given you the proper disclosures you not only need to make your investment decisions, but also that are required by the law,” Gensler said on CNBC when questioned by Jim Cramer about a slew of successful cryptocurrencies listed by the television personality. While Gensler’s tone was undeniably critical, his implication that tokens like Solana meme coin Just months ago, Gensler routinely SEC Chair Gary Gensler on @CNBC Squawk Box this morning. Note the pivot from “all tokens are securities” to “tokens lack proper disclosure”. Cramer asked about other token ETFs, Gensler dodges as usual into crypto bankruptcies as an answer for why crypto bad, SEC good. pic.twitter.com/FmSZkwuTYW— Alexander Grieve (@AlexanderGrieve) June 5, 2024His apparent change in rhetoric comes just weeks after the SEC, in an eleventh-hour about-face, abruptly While questions abound as to why Gensler and the SEC changed tack on Ethereum so suddenly, many believe the move was a direct result of Some financial analysts On Wednesday, Jim Cramer asked Gensler about the likelihood of an imminent BONK ETF trading on Wall Street—a question the SEC hair delicately sidestepped. In addition to crypto tokens, Gensler also criticized crypto exchanges from the floor of the “These crypto exchanges are doing things we would never allow this New York Stock Exchange to do,” Gensler said. “Our laws don’t allow you to trade against your customers.”The regulator has long Edited by Andrew Hayward
