US Securities and Exchange Commission Chair Gary Gensler spoke on Thursday with Bloomberg TV on its “Bloomberg Markets” show.
- crypto is highly speculative
- investors should not assume they’re getting the protections of the securities laws, even though the securities laws apply to many of the tokens
- investors are not getting full, fair and truthful disclosure
- the platforms, the intermediaries, are doing things we would never in a day allow or think the New York Stock Exchange or NASDAQ would do
- the platforms often are co-mingling and trading against you and have market makers that are on the other side of your trades
- and we don’t allow that in the rest of our securities markets
- this is a field rife with fraud, rife with hucksters,
- and…
Read More
