HOOD - Crypto 'An Outsized Piece Of The Scams And Problems' In Markets: Gary Gensler | Benzinga
Pointing out the disproportionate amount of fraud and scams within the relatively small crypto sector compared to its size in the broader market, SEC chair Gary Gensler on Tuesday highlighted the agency's focus amid the market’s rapid expansion.
What Happened: “We are seeing a $10 trillion capital market,” Gensler noted, clarifying that “Crypto is a small piece of our markets but it’s an outsized piece of the scams and frauds and problems in our markets.”
In an interview with CNBC, he stressed that without adequate regulatory frameworks, these issues are likely to persist, emphasizing the necessity for robust oversight.
Gensler's remarks reflect ongoing concerns about the compliance of various crypto tokens with existing securities laws. He pointed out, “Much of this field is noncompliant with the protections of our ...