SEC's Gensler Mocks Exchanges for Offering Securities as Crypto
Main page News, US Market, Stocks, SEC, Cryptocurrency Exchanges, Regulations

The US Securities and Exchange Commission (SEC) Chair, Gary Gensler, believes cryptocurrency exchanges are offering securities in the form of digital tokens and they know it.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

In a video published on Twitter on Thursday, Gensler slammed crypto platforms, saying they don't comply with the law, leaving investors without "basic protections." He emphasized:

"Crypto markets suffer from a lack of regulatory compliance. It's not a lack of regulatory clarity."

Moreover, Gensler pointed out crypto businesses know the law pretty well so that they try to avoid specific language on their website in an effort to evade regulatory scrutiny. The SEC chair didn't name the crypto platform, which violated the law that way.

Coinbase Sues SEC, Demands Regulatory Clarity

However, the watchdog earlier charged Bittrex Co-Founder, William Shihara, saying he coordinated with token issuers to first delete from public channels certain "problematic statements" if they want to list their tokens on the platform.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error