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06/09/23 11:25 AM

#25794 RE: creede #25793

SEC chair Gensler: "Crypto Rife With ‘Hucksters, Fraudsters, Scam Artists"

"With wide-ranging noncompliance, frankly, it’s not surprising that we’ve seen many problems in these markets." Gensler said, "We’ve seen this story before. It’s reminiscent of what we had in the 1920s before the federal securities laws were put in place. Hucksters. Fraudsters. Scam artists. Ponzi schemes. The public left in line at the bankruptcy court."