Content
@
https://onchainsummer.xyz
0 reply
26 recasts
26 reactions
nelsonofianatcpmk
@nelsonofianatcpm
SEC chair Gary Gensler reaffirmed previous criticisms of the crypto industry, stating that the sector is highly centralized with “significant non-compliance” in a Bloomberg interview on June 25. He downplayed decentralization in the sector, stating that a few platforms are “centralizing and commingling things that we would never allow anywhere else.” Gensler listed specific violations such as trading against customers, trading in front, and taking investments in a contract before listing. He noted that many “leading lights” of the crypto sector are in jail or awaiting jail, adding: “I say this and you giggle…but this is a serious thing … not ticky tacky … It’s about real protections for investors.” Gensler said non-compliance extends beyond securities laws to the Bank Secrecy Act, the Commodity Exchange Act, and anti-money laundering laws.
0 reply
0 recast
0 reaction
