FUD concerning regulation is a key driver of sentiment and stifles widespread adoption of cryptocurrency investments.Gensler's advanced level of cryptocurrency knowledge will tend to quiet banal attacks on the space by other bureaucrats."Nakamoto’s innovation is real." - Gary Gensler, Aug. 3, 2021.Under the Howey Test, initial coin offerings [ICO] generally qualify as securities, but Bitcoin does not.Last week, Gensler surprisingly signaled support for a Bitcoin ETF, so long as it invests in futures on the CME. An ETF with direct holdings of bitcoins would be better for investors.
