Departing SEC Chair Warns of Bad Actors in Crypto Market

user avatar

by Giorgi Kostiuk

2 years ago

Gary Gensler, SEC Chair, in an interview with Bloomberg TV, discussed compliance issues in the crypto space and enforcement actions.

Gensler's Tenure: Scrutiny on Cryptocurrencies

Gary Gensler, about to leave SEC, outlined the challenges posed by the digital asset industry. Since taking office, he has overseen 100 enforcement actions targeting fraud and non-compliance with securities laws. According to him, most digital currencies meet the criteria for securities and should be regulated accordingly. “The crypto market is rife with bad actors,” Gensler stated.

Debunking the “Anti-Crypto” Label

Gensler faced criticism for his approach to the crypto industry. However, he rejected the anti-crypto label, referencing his academic background at MIT, where he studied and taught blockchain technology. “My role as SEC Chair is to ensure investor protection and market integrity,” he explained.

Investor Protection and Market Integrity

Gensler emphasized that his main goal is investor protection and maintaining market integrity. He noted that many crypto projects risk investors by operating outside legal bounds and relying more on market sentiment than fundamentals.

Defending his actions as SEC Chair, Gensler stressed the importance of crypto regulation for investor protection and market integrity.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Bitcoin Core Updates Security Disclosure Policy Amid AI Vulnerability Discoveries

Bitcoin Core has updated its security disclosure policy to accelerate the reporting of vulnerabilities discovered through AI tools.

user avatarRajesh Kumar

Bitcoin Core Developers Release Security Updates Following AI Discovery

Bitcoin Core developers have released security updates after an AI-powered code scan revealed three vulnerabilities, including a critical one that could crash nodes on Windows and macOS.

user avatarMiguel Rodriguez

CF Benchmarks Introduces CFB Oracle to Enhance On-Chain Price Integrity

CF Benchmarks has launched CFB Oracle, a service providing cryptographically signed index information for applications on Ethereum mainnet, HyperEVM, and Robinhood Chain.

user avatarLuis Flores

SEC Proposes New Custody Framework for Crypto Assets

The SEC has proposed a new custody framework for investment advisers and registered funds dealing with crypto assets, allowing for potential self-custody and the use of state trust companies as custodians.

user avatarArif Mukhtar

FINMA Approves First Swiss Retail Bitcoin ETF

Switzerland's financial regulator, FINMA, has approved its first retail ETF that invests directly in Bitcoin, allowing retail investors to gain regulated exposure to Bitcoin.

user avatarMaria Gutierrez

EIP7906 Proposal Considered for Enhancing Ethereum Transaction Safety

The Ethereum Foundation is considering EIP7906, which proposes a readonly post-transaction frame to evaluate changes and events before accepting transaction outcomes.

user avatarDavid Robinson

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.