SEC chairman Gary Gensler made statements that cryptocurrency exchanges are breaking the law.
Gary Gensler made some statements by evaluating the recent lawsuits filed by the SEC on the stock markets. Gensler said crypto exchanges are breaking the law in an organized way.
Gary Gensler: Cryptocurrency Exchanges Are Violating US Laws in an Organized Way
The SEC is increasing its pressure on the cryptocurrency industry day by day. However, SEC chairman Gary Gensler made statements about the latest situation. The head of the US SEC said that crypto companies made a calculated decision to break the rules.
The head of the U.S. Securities and Exchange Commission (SEC) today vehemently dismissed criticism that the institution is trying to crush the crypto industry. That said, many companies in the industry have made a “calculated economic decision to break the rules.”
Speaking at a Piper Sandler conference in New York, Gary Gensler reiterated his view that the “vast majority” of crypto tokens pass the test for securities and should be registered with the SEC. This means that most crypto exchanges must also comply with securities laws, he added.
Gensler made the following statements in his statements:
“When crypto-asset market participants go on Twitter or on TV and say there is no ‘fair warning’ that their behavior may be illegal, don’t believe it. They may have made a calculated economic decision to take the risk of implementation as the cost of doing business.”
