News Formal

Gary Gensler: Crypto market is like 1920s stock market, full of 'fraudsters'

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 7 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

SEC Chair Gensler says crypto market is full of “Ponzi schemes' and “frauds” that can only be cleaned up with securities regulations.

In the talk, Gensler praised the Securities Act of 1933 and Securities Exchange Act of 1934, claiming that these laws allowed the U.S. securities markets to “thrive” over the next 88 years. He argued that the “crypto securities markets” of today should also benefit from these laws, as they are not “less deserving of the protections” they provide.against Telegram Open Network, Gensler argued that crypto asset securities are not exempt from securities laws even if they have utility.

Gensler denied that this separation isn’t possible, saying that separating these three functions simply requires work.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Binance lawyers allege SEC Chair Gensler offered to serve as advisor to crypto company in 2019Years before he began taking on Binance as head of the SEC, Gary Gensler offered to advise the company, according to the crypto exchange's lawyers.
Source: CNBC - 🏆 12. / 72 Read more »