SUMMARY SEC Chair Gary Gensler dismissed inquiries about cryptocurrency during a post-meeting discussion on the U.S. Treasury market. Following a reporter’s question regarding the status of spot bitcoin ETF applications, Gensler emphasized the significance of the $26 trillion Treasury market in supporting the nation’s capital markets, funding the government, and shaping monetary policy. He underscored the comparatively smaller size and regulatory challenges of the crypto market, expressing concerns about non-compliance with various laws. Gensler emphasized the SEC’s focus on the U.S. Treasury market’s importance and downplayed the significance of crypto securities, despite the ongoing review of multiple applications from major asset management firms for the nation’s inaugural spot bitcoin fund. The surge in the value of the leading cryptocurrency has sparked speculation about an imminent decision.
