SEC Chief Details Risk Of Investing In Crypto

January 28, 2023 Story: Divya Sinha

SEC Chief Gary Gensler shared a Twitter space discussion held on Jan 11 with Commissioner Caroline Crenshaw and US Army about the crypto market.

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In the discussion SEC Chief refer crypto to the as a highly speculative and volatile asset class.

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He mentioned that many cryptocurrencies are unregistered securities.

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He further added, many of them are not complying with the securities laws, but they should.

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Gensler also said that investors think before making a decision, and don’t get caught in “FOMO” i.e the fear of missing out.

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In the discussion Crenshaw said investor protection is limited as most of them have chosen not to fall under the jurisdiction of the SEC.

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She also pointed towards crypto scam and noted that the industry needs more transparency.

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