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Departing SEC Chair Gary Gensler has warned that the cryptocurrency market is "rife with bad actors," highlighting ongoing compliance issues and the need for regulation. During his tenure, he oversaw 100 enforcement actions against fraud and non-compliance, asserting that most digital currencies qualify as securities. Gensler emphasized his commitment to investor protection and market integrity, countering claims of being anti-crypto by referencing his academic background in blockchain technology.
Outgoing SEC Chair Gary Gensler has warned that most cryptocurrency projects, including XRP, are likely to fail due to regulatory challenges and bad actors in the industry. He emphasized the need for stricter regulations on altcoins and intermediaries, while acknowledging the SEC's efforts against firms like Ripple and Binance. As he prepares to leave, the SEC is set to file its opening brief in the ongoing SEC v Ripple case by January 15, marking a pivotal moment in the agency's regulatory approach.
David Gurarie
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SEC Chair warns of risks and bad actors in cryptocurrency market
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05:45 10.01.2025
Gensler warns of crypto project failures amid regulatory challenges and legal battles
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