SEC Chair Gary Gensler says crypto is full of bad actors. His comments came during the DC Fintech week where the financial regulator questioned the integrity of the industry. It comes a week after former FTX CEO Sam Bankman-Fried was found guilty for his fraudulent acts against platform customers. It comes barely a week after former FTX CEO Sam Bankman-Fried was found guilty on seven counts of charges bordering along fraud.
” He added that accountability remains critical for all players, while high impact cases require a keener eye, with “gatekeepers” or enablers being a key focus of the SEC. Gensler revealed having commissioned “staff to look at every way to get these platforms inside the investor protection remit." In his opinion, failure by trading platforms to come into the regulated playground would default to another year of risk to the public.