US SEC’s Gensler Releases Another Video Dig at Crypto Industry

event this week in Austin, Texas – the agency chief reiterated his longstanding position that crypto platforms are operating illegally.

“The lack of compliance by these crypto platforms means that you don't have basic investor protections,” Gensler said in his “Office Hours” video series. “These are things like rulebooks and surveillance to prevent fraud and manipulation. Or appropriate custody and segregation of customer assets so they don't get misused or abused or simply become the property of the platform, especially if it goes into bankruptcy.

Gensler has said he’ll hold the industry to existing securities laws, so the courts and the U.S. Congress may be the only impediment to his mission. Congressional committees are examining crypto market structure at two

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SEC's Gensler says crypto companies have to comply with the lawChair Gary Gensler warned crypto firms that they need to “comply with American laws” in a new social media video. Crypto suffers from a lack of compliance.
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Circle CEO blames US crypto crackdown for declining USDC market capThe U.S. Securities and Exchange Commission led by Gary Gensler has been on an enforcement spree since the FTX collapse saga. USDC depegged in March, a direct result of the U.S. banking crisis. Circle’s $3.3 billion worth of USDC reserves was stuck with Silicon Valley Bank, which was one of the three crypto-friendly banks shut down by regulators.
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