SEC clarifies stance on Ethereum and Litecoin as non-securities, adding urgency for regulatory framework.

A video from 2018 has surfaced showing future SEC Chairman Gary Gensler telling institutional investors that Ethereum, Litecoin, Bitcoin, and Bitcoin Cash are not securities, contradicting his recent suggestions that all cryptocurrencies other than Bitcoin are securities. Gensler's comments likely will anger the crypto industry and many cryptocurrency owners, who claim Gensler failed to provide guidance about the legality of specific tokens before embarking on what many have called a "regulation by enforcement strategy." The SEC declined to comment on the record about any potential conflicts between Gensler's 2018 remarks and the agency's current legal stance.