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...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!