U.S. Securities and Exchange Commission Chair Gary Gensler on Wednesday called the cryptocurrency industry “really rife with noncompliance” with SEC regulations designed to protect investors from inaccurate or fraudulent claims.

“We would never allow the New York Stock Exchange … or a hedge fund or broker-dealer to do the things that crypto intermediaries may be doing,” Gensler said at the 2023 Securities Enforcement Forum sponsored by Securities Docket. “So yes, we want to work with folks to get into compliance. But it also starts with whether that crypto intermediary or that crypto securities asset provider wants to come into compliance.”

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]