Gensler Calls For Amped-Up Regulation Of Crypto 'Wild West'
By Dean Seal (August 3, 2021, 7:47 PM EDT) -- U.S. Securities and Exchange Commission Chair Gary Gensler said Tuesday that the cryptocurrency market is operating "like the Wild West" and requires a firmer hand from the federal government.
Speaking on a panel at the Aspen Security Forum on Tuesday, Gensler said the burgeoning asset class, currently valued at more than $1.5 trillion, lacked the typical investor protection guardrails that the SEC is commissioned with providing and had become "rife with fraud scams and abuse in certain applications."
Saying that he believed that "many of these tokens are offered and sold as securities," Gensler signaled to the virtual crowd that the...
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