SEC Chair Gensler Warns of Bitcoin’s Role in Ransomware, Advocates for Centralized Money
United States Securities and Exchange Commission (SEC) Chair Gary Gensler spoke about Bitcoin, stating that it is the leading market share for ransomware attacks.
Despite the agency’s approval of 11 Spot Bitcoin ETFs earlier this year, Gensler has continued to express his disapproval of the asset and the cryptocurrency industry as a whole.
Speaking to CNBC, SEC Chair Gary Gensler stated that Bitcoin is the leading market share for ransomware attacks. However, this is similar to statements that Gensler published following the approval of the Bitcoin ETFs. In a statement, he referenced ransomware as one of the illicit activities of which Bitcoin is prominently a part.
In his statement, he called Bitcoin “a speculative, volatile asset that is also used for illicit activity including ransomware, money laundering, sanction evasions, and terrorist financing.” Additionally, he was certain to make the distinction that the investment product approvals were not an approval or endorsement of Bitcoin as an asset.
Gary Gensler just got absolutely roasted by Joe Kernan on CNBC this morning regarding #Bitcoin
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