Gary Gensler criticizes crypto market participants again
Amid the persecution of crypto projects, the head of the US Securities and Exchange Commission, Gary Gensler, expressed the opinion that important data on digital currencies is practically not available to investors in the required volume. The official spoke about this in an interview with CNBC.
When asked about the warning from the crypto division of fintech company Robinhood about a possible lawsuit, the head of the SEC refused to discuss it publicly.
Gensler claimed investors weren’t getting “the required or needed disclosures” about crypto and that “many of those tokens are securities under the law of the land, as interpreted by the U.S. Supreme Court.” “
Let us remind you that in addition to Robinhood, ConsenSys and Uniswap have recently received warnings from the SEC. When asked whether ETH is a security or a commodity, the representative of the American regulator also did not give a clear answer.
“All I would say is, to me, the fundamental question is, is how do we ensure that the American investor is protected? And right now, they’re not getting the required or needed disclosures. And the intermediaries in the center of this rather centralized market generally are conflicted and doing things we would never allow the New York Stock Exchange to do. The New York Stock Exchange is not allowed to trade against the investors,” said the SEC chairman.
Additionally, he mentioned that Ethereum-based spot ETFs are under consideration. Recently, the regulator postponed the decision on Franklin Templeton’s ETH-ETF with a deadline until mid-June.
The SEC also postponed the deadline for making a decision on the product from BlackRock. And in May, the department increased the processing time for applications from Invesco and Galaxy.
Previously, Gansler said that the crypto industry needs something like disinfection. According to the official, the disclosure of information by financial institutions will ensure the efficiency of the market and the protection of the interests of investors.
