SEC Targeting Crypto Industry's Lack of Disclosure

 "Cryptocurrency assets are highly speculative and investors in them need more protections or they could lose trust in the markets, Gary Gensler, chair of the U.S. Securities and Exchange Commission, said on Monday [at the Financial Industry Regulatory Conference]." - Reuters Legal, May 16, 2022.

Referring to the role of the SEC as the "cop on the beat," Gensler zeroed in on the lack of full disclosure. For example, users should be informed if the trading platform they are using is trading against them. Also, they may not be aware that they really don't own the digital assets they are storing.

Concern about crypto escalated not only because of the crash in the market price. In addition, TerraUSA came undone. It was unable to maintain the 1 to 1 dollar peg.

Genseler's address confirmed that crypto is entering the era of regulatory scrutiny and enforcement.

Connect with Editor-in-Chief Jane Genova at janegenova374@gmail.com. She does communications assignments for law firms, defense and plaintiff and the enterprises serving them. Please contact for complimentary consultation.

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