In a fresh interview with Bloomberg, former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler shared a pointed view on the state of crypto markets. While emphasizing that most cryptocurrencies remain highly speculative and volatile, Gensler notably exempted Bitcoin from this criticism.
These comments come as regulatory conversations around crypto continue to intensify in the U.S., with lawmakers and agencies grappling over how digital assets should be treated.
Most Crypto Assets Still Risky, Says Gensler
Gensler reaffirmed his long-standing stance that the majority of cryptocurrencies are speculative in nature. According to him, many tokens lack clear use cases, are prone to pump-and-dump schemes, and operate outside of proper regulatory frameworks. His remarks align with previous statements he made during his SEC tenure, where he frequently highlighted investor protection concerns.
He further noted that price volatility in crypto assets makes them unreliable for both payments and investments—except in the case of Bitcoin.
LATEST: Former SEC Chair Gary Gensler says cryptocurrencies are highly speculative, volatile asset, except Bitcoin on Bloomberg today. pic.twitter.com/FgAevsMDTt
— Cointelegraph (@Cointelegraph) December 3, 2025
Bitcoin: The Exception to the Rule
When asked specifically about Bitcoin, Gensler drew a clear distinction. He called Bitcoin more akin to a digital commodity, echoing how it has been previously treated by U.S. regulatory bodies like the Commodity Futures Trading Commission (CFTC).
This subtle endorsement is significant, as it hints that Bitcoin may continue to enjoy a separate regulatory lane compared to other digital assets, especially amid ongoing debates about spot ETF approvals and crypto classification.
While critics argue that Gensler’s stance still stifles innovation in the broader crypto space, his nod to Bitcoin may give bulls a reason to be hopeful—especially as Bitcoin continues to gain mainstream financial attention.