Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»EXCHANGE NEWS»SEC Chairman Gary Gensler Warns ‘Too Many Frauds and Bankruptcies’ in Crypto Industry
EXCHANGE NEWS

SEC Chairman Gary Gensler Warns ‘Too Many Frauds and Bankruptcies’ in Crypto Industry

By Crypto FlexsDecember 22, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
SEC Chairman Gary Gensler Warns ‘Too Many Frauds and Bankruptcies’ in Crypto Industry
Share
Facebook Twitter LinkedIn Pinterest Email

Gensler said the SEC is actively reviewing rules that could potentially harm the cryptocurrency industry.

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler recently expressed concern in an interview with CoinDesk, noting that fraud and bankruptcies are rampant in the cryptocurrency industry.

The SEC chairman said he respects investors’ decisions to explore the cryptocurrency market but believes they are not receiving adequate disclosure about the projects they are investing in.

Gary Gensler is deeply concerned about cryptocurrencies

Gensler also questioned the authenticity of the value proposition of some digital assets classified as securities.

“If you have a product or service, we understand that, but what is the value proposition of actually having a decentralized token?” he asked.

He also said that many of these projects are merely “speculative investment contracts,” including Bitcoin (BTC), which is perceived as a commodity.

Gensler warned that investors should be careful and do their due diligence before investing in cryptocurrencies as they could lose 100% of their funds.

“Investors must be cautious, cautious and prepared to lose 100% of their assets. If you can find a website and read something about it on CoinDesk, there’s a good chance you’ll bet on that entrepreneur. “Gensler said.

SEC introduces rules that could impact industry

The SEC Chairman further noted that his agency is concerned about companies commingling users’ funds. Recall that financial regulators have sued many cryptocurrency companies, including bankrupt exchange FTX, for misappropriating user funds.

In addition to abusing users’ funds, Gensler said some of these companies are also engaging in disguised tax transactions against their customers to enrich their pockets at the expense of users.

As fraud increases in emerging markets, Gensler said the SEC is actively reviewing regulations that could potentially harm the industry.

So far, the SEC has not introduced any rules governing the cryptocurrency industry. Instead, the agency took a regulatory stance through enforcement actions. The SEC has filed lawsuits against major players in the industry, including Coinbase, Binance, Kraken, and Gemini, for operating in the United States without proper registration.

next

Cryptocurrency News, News

thank you!

You have successfully joined our subscriber list.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cardano (ADA) flashes optimistic signals. Did the meeting just started?

July 26, 2025

Ether Leeum price rises

July 23, 2025

Bitcoin Price $ 123K Explosion -Trader Brace for Brake Out

July 20, 2025
Add A Comment

Comments are closed.

Recent Posts

Is it really possible to sell Memecoins?

July 29, 2025

Encryption Inheritance Update: July 2025

July 29, 2025

Charting the Course for the Future of Decentralized Platforms

July 29, 2025

Blockchain For Good Alliance Leads Global Digital Cooperation At UN IGF 2025

July 29, 2025

Queens Park Rangers And TokenFi Announces New Partnership

July 29, 2025

Onchain AI Agents Go Live With USDC & Coinbase X402

July 29, 2025

DeepSnitch Introduces Five Specialized AI Agents As Token Presale Goes Live

July 29, 2025

PowerBank’s 3.79 MW Geddes Solar Project Goes Live, Powering New Bitcoin Treasury Strategy

July 29, 2025

Ika Launches Mainnet To Enable Native Cross-Chain Asset Control On Sui Blockchain

July 29, 2025

Floki registers an Micar compatible white paper with ESMA.

July 29, 2025

Use Dogecoin (DOGE) To Participate In DLMining Cloud Mining Bitcoin And Easily Achieve $5,000 In Daily Income

July 29, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Is it really possible to sell Memecoins?

July 29, 2025

Encryption Inheritance Update: July 2025

July 29, 2025

Charting the Course for the Future of Decentralized Platforms

July 29, 2025
Most Popular

Lightning network nodes do not report Bolt9 functionality

January 31, 2024

Chinese forestry executive found guilty of market corruption

August 7, 2024

Ether Leeum Game MOONRAY: Web3 Gamer to be released on Xbox and PS5

February 4, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.