At a conference hosted by the Aspen Institute, SEC Chair Gary Gensler stressed the need for stricter and better enforced investor protections around cryptocurrencies.
“Right now, we just don’t have enough investor protection in crypto,” said Gensler. “Frankly, at this time, it’s more like the Wild West.”
Most cryptocurrencies, he explained, are primarily “highly speculative stores of value.”
Once a partner at Goldman Sachs, Gensler was a relatively progressive regulator during his tenure as Chair of the CFTC under President Obama; today’s speech was his first major statement of intent regarding crypto since taking over the SEC in April.
“I believe we have a crypto market now where many tokens may be unregistered securities, without required disclosures or market oversight,” he explained. “This leaves prices open to manipulation. This leaves investors vulnerable.”
“While each token’s legal status depends on its own facts and circumstances, the probability is quite r
Źródło: https://decrypt.co/77574/gary-gensler-crypto-market-securities-aspen-institute
