The US Security and Exchange Commission (SEC) Chair, Gray Gensler, has continued slamming crypto companies and criticizing the crypto space in Wednesday’s congressional hearing.
While noting the SEC’s several dissensions to courts, panel chairman Patrick McHenry condemned the agency’s unfavorable actions against digital assets. He said that all these facades are causing confusion and severe damage to the industry. Furthermore, the congressman confirmed from Gensler that “Bitcoin is not a security.”
Gensler eventually said that Bitcoin is not a security, but refused to call it a commodity. Here's a short video (40sec):
https://yewtu.be/watch?v=nZ-sNv3ju6s