Gary Gensler, chairman of the U.S. SEC, reiterated in an interview with CNBC that Bitcoin is not a security and that people can buy ETF products. But Gensler insisted that the vast majority of other tokens meet the legal definition of securities and should be subject to the jurisdiction of the SEC. Existing laws give the agency the power to regulate the cryptocurrency sector, and not liking the rules is not the same as not having them.