Gary Gensler, the chairman of the US Securities and Exchange Commission, continues to express deep concerns about the cryptocurrency sector and its lack of regulatory oversight.
In an interview, Gensler once again criticized cryptocurrencies’ decentralized nature, making it a headache of sorts for the SEC to enforce regulations and protect investors effectively.
Gensler’s primary message to investors is clear: be cautious when dealing with cryptocurrencies. He highlighted the prevalence of fraud and unscrupulous actors in the crypto market, describing it as “rife with fraud” and “hucksters.”
While acknowledging that legitimate actors are also in the space, he stressed that bad actors are far too familiar.
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Source: Jonathan Ernst | Reuters
The SEC Chair’s Concerns: ‘Fraud’ And Lack Of Oversight
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