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“Several crypto tokens are bonds,” says new SEC chairman Gary Gensler

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In the midst of a long legal battle against Ripple for allegedly selling securities without SEC authorization, the agency’s new president said in a TV interview that several crypto market tokens are in fact securities.

Speaking on CNBC’s Squawk Box, Gary Gensler said:

“I think that insofar as something is a security (or not), the SEC has a lot of authority to define and a lot of crypto tokens – I won’t call them cryptocurrencies right now – they are in fact security. The previous President indicated this. The previous SEC brought a number of enforcement actions to bring some of these security or investment contract tokens into the rules. ”

This may signal a possible interpretation – it is not just XRP being considered as a title, but a lot of tokens that will fall into the same category.

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Ripple’s CEO Brad Garlinghouse has on several occasions criticized the SEC for its lack of clarity. Their struggle with American regulators is still going on. He stated in a recent interview: “The SEC said that the XRP is a security. And now we are involved in a discussion in the court. So far, I feel good about the way it is going (the process), but it is certainly frustrating. ”

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