EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

SEC Chairman Gensler Compares Crypto Industry To Wild West 

Admin by Admin
January 12, 2023
in Crypto News
0
Strategist Expects US Recession By Year-End, Fed Tightening To Drag Down Economy
0
SHARES
10
VIEWS
Share on FacebookShare on Twitter
Webinar Webinar

While speaking at a Twitter space hosted by US Army on Jan. 11, SEC chairman Gary Gensler reaffirmed his skepticism about crypto when he described the crypto industry as a Wild West. He claimed traders must exercise caution because most cryptos operate at variance to existing laws. 

In a session titled “Financial advice for US service members,” Gensler stated that most cryptocurrencies lack proper regulatory compliance and use cases. According to him, up to 15,000 tokens could fail because venture capital will fail. He added that new startups would probably be unsuccessful because the status quo has little room for micro currencies. 

Gensler’s latest criticism of cryptocurrencies reveals important issues for the SEC and shows how crypto tokens can be treated as securities if they only come under the agency’s jurisdiction. 

Gensler’s office has taken several enforcement actions, most recently deeming FTX’s native FTT exchange token as a security.

In his statement before the US Senate Committee on Banking, Housing, and Urban Affairs in September, the SEC chairman also warned crypto intermediaries advising them that they should register with the commission.

The SEC chair advised listeners to stay away from the crypto market. He claimed that it’s very simple to succumb to fear of missing out (FOMO) since asset values have been rising, causing an increase in tweets and mentions of terms like altcoins and altcoin season in the crypto media.

Based on previous history, Gensler claimed that price pumps like this always attract FOMO because if it tops form, the situation reverses only when the crowd begins to have second thoughts.

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: CryptoGenslerSECwild west
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

MetaMask Warns Crypto Users About Address Poisoning

Next Post

EUR/USD Faces Some Selling Pressure Near 1.0780

Admin

Admin

Next Post
EUR/USD pair

EUR/USD Faces Some Selling Pressure Near 1.0780

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
Mayowa Owolabi on battles traders need to fight

Battle Every Trader Must Fight (Part 1)- Mayowa Owolabi

August 31, 2022
Meta (Ex-Facebook) Fined €1.2 Billion In Landmark EU Ruling

Meta Verified Shows A Company Running Out of Ideas

February 22, 2023
XAGUSD pair

XAG/USD Climbs to Mid-$19.00s

4
Premier League Considering Partnership With NFT Crypto Platform

Premier League considering partnership with NFT crypto platform

2
EUR/USD pair

EUR/USD Recovers from 20-year Lows

2
Binance CEO Supports Terra Classic Raising LUNC Burn Tax To 0.5%

Binance Proof-Of-Reserve Pledge Earns Support Following FTX Crisis

2
Atomic Wallet Hacker Moves Stolen Funds Via Crypto Mixer Sinbad.io

Atomic Wallet Hacker Moves Stolen Funds Via Crypto Mixer Sinbad.io

June 7, 2023
SEC And CFTC Find clarity In New Legislation To Regulate Crypto

SEC And CFTC Find clarity In New Legislation To Regulate Crypto

June 7, 2023
SEC Aiming To Freeze BinanceUS Assets   

SEC Sues Coinbase Just Hours After Binance

June 7, 2023

With Binance Lawsuit SEC Extends Its Regulatory Oversight Over $115 Billion Assets

June 7, 2023

Recent News

Atomic Wallet Hacker Moves Stolen Funds Via Crypto Mixer Sinbad.io

Atomic Wallet Hacker Moves Stolen Funds Via Crypto Mixer Sinbad.io

June 7, 2023
SEC And CFTC Find clarity In New Legislation To Regulate Crypto

SEC And CFTC Find clarity In New Legislation To Regulate Crypto

June 7, 2023
SEC Aiming To Freeze BinanceUS Assets   

SEC Sues Coinbase Just Hours After Binance

June 7, 2023

With Binance Lawsuit SEC Extends Its Regulatory Oversight Over $115 Billion Assets

Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Entertainment
  • Forex News
  • Gaming
  • Review
  • Reviews
  • Stocks
  • Uncategorized

Recent News

Atomic Wallet Hacker Moves Stolen Funds Via Crypto Mixer Sinbad.io

Atomic Wallet Hacker Moves Stolen Funds Via Crypto Mixer Sinbad.io

June 7, 2023
SEC And CFTC Find clarity In New Legislation To Regulate Crypto

SEC And CFTC Find clarity In New Legislation To Regulate Crypto

June 7, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>