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SEC Chair Promises Strict Action Against Non-Compliant Crypto Firms

According to a report, SEC Chair Gary Gensler is not happy with the attitude of companies involved in the cryptocurrency industry as they are not following the agency’s regulatory expectations.

Additionally, the SEC chair urged cryptocurrency firms to register their corporations and engage in communication with the agency. He claims that the majority of cryptocurrency assets are unregistered securities that belong under the SEC’s jurisdiction.

Gensler stated in a tweet on December 22 that cryptocurrency platforms must abide by securities regulations due to the continued risk to investors.

He added that the SEC would exert every effort to bring the market in line. The statement comes after the Commission’s most recent regulatory action, its lawsuit against Sam Bankman-Fried over the FTX collapse.（By Anisha）

Related news：SEC Calls FTT a Security, What Are the Impacts on Other Cryptos and Exchanges?

SEC Gary Gensler Sam Bankman-Fried
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