CoinVoice has recently learned that according to Cryptoslate, U.S. Senator Cynthia Lummis of Wyoming believes that SEC Chairman Gary Gensler may resign as head of the regulatory agency next year. She made the above remarks on CNBC's Squawk Box show on September 27, responding to the host saying that Gensler "loves this job" and does not want to leave it. She added: "I don't believe this will happen, especially if Trump is elected president." However, she also said that she could not confirm whether this would be the case if Vice President Kamala Harris was elected.
Additionally, Lummis said Gensler did not “fully appreciate” that Bitcoin and Ethereum are commodities. Lummis further said that other cryptocurrencies could be commodities, but did not specify: “We need to have a clear definition. We can use the Howey test, and as it is updated, there may be other assets that qualify for the CFTC’s jurisdiction in addition to Bitcoin and Ethereum.”
Notably, Gensler reiterated during his appearance on Squawk Box on September 26 that the SEC considers Bitcoin to be a commodity. However, he did not comment on Ethereum’s status during a congressional hearing on September 24. [Original link]