SEC Head Advocates Inclusion of Altcoins Category of Securities

Gary Gensler, the head of the US Securities and Exchange Commission (SEC), has stated in an interview with The New York Magazine that, with the exception of Bitcoin, all digital currencies can be categorized as securities and regulated using existing legislation.

He has also noted the immense potential of blockchain technology. Gensler has pointed out that investments in stocks such as Amazon are regulated through stock market regulations, and that the same system can be employed to oversee operations with altcoins.

He has noted that the SEC, with its authority and resources, is equipped to carry out the necessary regulatory duties.

He has added:

“Digital assets are essentially securities, as investors acquire them in order to maximize the profit from investing in such instruments.”