Outgoing U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has insisted that the regulatory body never classified Bitcoin and Ethereum as securities.

Additionally, he separated the world’s largest cryptocurrency by market cap from other tokens, saying they still have to prove their actual value.

A Clear Distinction for Bitcoin, Ethereum

Gensler made the statements in exit interviews with Yahoo Finance and CNBC’s Squawk Box, where he reflected on his tenure, which ends as the Trump administration prepares to take office.

Speaking with Yahoo Finance’s Jennifer Schonberger, the agency head made it clear that the SEC had never classified BTC and ETH as securities.

“My predecessor and I, we’ve never said Bitcoin is a security. We haven’t said Ethereum is a security,” Gensler declared.

Interestingly, his assertions appear contradictory, especially regarding Ethereum. A filing from April 2024 revealed that the agency had believed for at least a year that ETH was an unregistered security that had been trading in violation of pertinent laws.

However, there seems to be no ambiguity regarding Bitcoin, with Gensler reiterating its status on his CNBC appearance, stating that BTC did not fall under securities laws, unlike tens of thousands of other tokens in the market.

Asked why he had not clarified the status of ETH and BTC outright, Gensler claimed that his job required him to be extremely careful with his language.

While the Biden appointee described Bitcoin as “highly speculative,” he still acknowledged that, given its growing popularity worldwide, it could become an asset similar to gold in the future.

However, he had no kind words for other cryptocurrencies, claiming they first had to show their true use case and value proposition:

“These other thousands of projects need to show their use case and show that they actually have fundamentals underlying them, or they won’t persist.”

Criticism of the SEC’s Approach

One of the most contentious aspects of Gensler’s term was the SEC’s enforcement-heavy approach to crypto regulation. Critics have argued that the agency has focused more on penalizing non-compliance than providing clear rules for the industry.

Asked about this by CNBC’s Andrew Sorkin, the Commission’s leader shifted the onus for crafting new regulatory frameworks to Congress. Additionally, he decried the high levels of noncompliance by crypto projects, many of which he claimed fell under the securities laws.

On the recent appellate court’s demand that the SEC better explain why it turned down Coinbase’s request for the agency to develop crypto-specific rules, the former MIT professor stated, “Not liking the law and not liking rules doesn’t mean there aren’t laws and rules.”

The crypto market is looking lively again thanks to AI16Z, which shot up over 20% in the last 24 hours.

This jump fits into a broader trend towards meme coins with real utility.

Momentum is also building around Meme Index, a new presale project, after it hit the $2.4 million funding milestone earlier today.

AI16Z Climbs to $1.47 After Rebound From Support Zone

After ten days of volatile trading, AI16Z has finally found its footing, shooting up to $1.47 since yesterday.

It rebounded from support at around $1.25 – making it the top-performing major meme coin this week.

As buyers rush for exposure, spot trading volumes have topped $350 million.

This upswing kicked off after the much-anticipated ElizaOS whitepaper was released.

Things took an even more bullish turn when Gem Insider, a popular crypto influencer, declared that the “bottom is in” for AI16Z.

He believes a return to all-time highs is imminent.

Despite this optimism, some traders believe AI16Z’s latest rally is just a short-term bounce before another sell-off.

Although there’s fresh buzz around the whitepaper, the coin’s fundamentals remain unchanged.

It still relies mainly on speculative buying from retail traders.

So, although AI16Z’s 20% jump is undoubtedly positive for holders, time will tell whether this rally has real legs.

Market Sentiment Shifts as Traders Prepare for Trump Administration

AI16Z’s surge is unfolding in a market that’s finally perking up after a bumpy spell.

Bitcoin and Ethereum are back in the green over the last day, with XRP jumping around 10%.

Much of this optimism hinges on political developments, especially around Donald Trump’s upcoming return to office and how that might impact crypto regulation.

His team is reportedly drafting crypto-friendly executive orders, including changes to specific banking policies that have presented challenges for the industry.

These developments have investors hoping for a crypto-friendly future.

But most coins and tokens are still trading in a tight range – making AI16Z’s breakout all the more eye-catching.

Its ability to withstand market volatility shows the continued demand for creative meme coins, particularly those with real-world applications.

AI16Z stands out as yet another example of how quickly sentiment can impact a coin’s price.

And with some top crypto commentators suggesting a bull run is imminent, AI16Z’s surge might just be the start of something much bigger.

Meme Index Presale Passes $2.4M – Could This Meme Coin Investing Platform Pass AI16Z?

Another meme coin, Meme Index, is also seeing positive momentum.

This project has raised over $2.4 million in presale, and MEMEX tokens are available for $0.0152243 each.

It brings a new approach to meme coin investing, featuring four indexes that track both established and low-cap tokens.

Its goal is to provide investors with a more balanced way to navigate the space.

Perfect timing could be on Meme Index’s side, especially given all the buzz around a potentially pro-crypto Trump administration.

Coupled with the excitement around AI16Z’s rally, it’s easy to see why people are paying attention to the project.

Notably, Meme Index’s utility goes beyond just meme coin indexes.

It also has a staking app for the native MEMEX token that offers above-average annual yields.

This app has already gained significant traction – with over 104 million tokens already locked up.

NASS CRYPTO, a YouTuber with over one million subscribers, released a video about Meme Index last weekend.

He highlighted how it will offer the world’s first decentralized meme coin index.

NASS CRYPTO’s endorsement has had a huge effect on Meme Index’s socials, leading to a surge in membership for the project’s Twitter and Telegram communities.

With all this early interest, MEMEX might follow in AI16Z’s footsteps and is definitely one to keep an eye on.

Visit Meme Index Presale

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[PRESS RELEASE – Dubai, United Arab Emirates, January 15th, 2025]

ChainGPT, a pioneer in blockchain AI solutions, announced its strategic integration with ChainAware’s cutting-edge anti-fraud and anti-money laundering (AML) technologies. As regulatory scrutiny intensifies across the cryptocurrency and blockchain sectors, compliance and security have become paramount. ChainGPT’s integration with ChainAware’s anti-fraud tools underscores its dedication to adhering to stringent regulatory requirements and fostering a transparent environment for users and stakeholders.

This collaboration is a step forward in ensuring robust compliance with global regulatory frameworks, including the Markets in Crypto-Assets Regulation (MiCA). With this integration, ChainGPT will leverage ChainAware’s solutions to perform real-time wallet screening and transaction monitoring. By analyzing blockchain data and identifying suspicious activity, the enhanced platform aims to prevent fraudsters and bad actors from accessing ChainGPT’s services.

Commenting on this, Ilan Rakhmanov, Founder of ChainGPT and CEO of ChainGPT Software said, “At ChainGPT, we are committed to creating a safe, compliant, and user-centric platform. By incorporating ChainAware’s state-of-the-art anti-fraud and AML technologies, we are taking a proactive stance against illicit activities and reinforcing our dedication to global regulatory compliance. This partnership ensures that only legitimate users gain access to our platform, providing peace of mind to our community.”

When users connect their wallets to ChainGPT’s platform, ChainAware’s solution will conduct instant screening against a comprehensive database of flagged and high-risk addresses. This ensures that wallets associated with fraud, money laundering, or other illicit activities are immediately identified and restricted from accessing ChainGPT’s services. The integration also includes continuous monitoring capabilities, providing ongoing protection as the platform evolves.

This partnership further positions ChainGPT as a leader in blockchain innovation, delivering AI-driven tools and solutions in a secure environment. Users can confidently leverage ChainGPT’s advanced capabilities, knowing that the platform is equipped with industry-leading measures to deter fraud and ensure compliance with global regulations.

About ChainGPT 

Incepted in 2023, ChainGPT is a leading provider of AI-powered tools for the blockchain and Web3 industries. It emerged as a project to bridge the gap between blockchain technology and AI, creating innovative solutions for the Web3 ecosystem. Leveraging advanced AI techniques, ChainGPT enhances blockchain functionality with its tools and applications, including SDKs and APIs for automated smart contract generation, a Web3 AI chatbot, an NFT generator, and an IDO launchpad. With established partnerships and collaborations with industry leaders such as Google, Nvidia, and BNB Chain, ChainGPT continues to pioneer efficient and user-friendly AI solutions in the blockchain space.

As a relatively young but rapidly growing project, ChainGPT’s mission is to revolutionize the intersection of blockchain and AI, with a vision to unlock the potential of autonomous AI agents in Web3.

Users can learn more at: https://www.chaingpt.org/

General Resources:

Website | Crypto AI Hub | ChainGPT Labs | ChainGPT Pad | CryptoGuard |

CGPT DAO | AI NFT Generator | Staking | Blog |

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