SEC Chair Gary Gensler Said 3/4 of Crypto Was Not Securities in 2018

A video clip of the current US Securities and Exchange Commission (SEC) Chair Gary Gensler is widely spread on Twitter. In the video, Gensler, then professor at MIT, said on a 2018 course called "Blockchain and Money" that 3/4 of crypto was not securities, which is totally different from his current stance.

On the course, Gensler said, "so we already know in the US and in many other jurisdictions that 3/4 of the market are not ICOs or not what would be called securities, even in the US, Canada, and Taiwan, the three jurisdictions that follow something similar to the Howey Test that we've talked about. 3/4 of the market is non-securities. It's just a commodity, a cash, crypto."

The video was retweeted by Coinbase CEO Brian Armstrong.