In a recent statement, Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), warned that if cryptocurrency exchanges “manipulate the market,” disclosing information will not prevent regulatory action. He emphasized that if these companies disclose “misleading” information, leading traders to invest funds in products they would not have otherwise, they cannot avoid legal action.
Gensler stated, “Disclosure alone may not protect the bad actors, you can’t just disclose and call it a day.”
Furthermore, Gensler mentioned on Wednesday that the majority of cryptocurrency companies have not disclosed any information at all. He pointed out that the way cryptocurrency exchanges have been operating for a long time is something traditional financial markets trading platforms have never been allowed to do.
Tags:
Gary Gensler
SEC
Cryptocurrency
Regulation
Lawsuit
