The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has warned the public about crypto investments that seem “too good to be true.” Meanwhile, the U.S. Treasury Department says that the recent crypto market turmoil underscores the urgent need for regulatory frameworks that mitigate the risks posed by digital assets.
I caution the public. If it seems too good to be true, it just may well be too good to be true.
We believe the recent turmoil only underscores the urgent need for regulatory frameworks that mitigate the risks that digital assets pose.
“We continue to work closely with our regulatory partners, as they take action under their existing authorities, and offer guidance and expertise as Congress considers legislation to further address these risks,” the official detailed.
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