cryptonews: SEC chairman Gary Gensler has insisted that clear rules for the crypto industry already exist — despite several exchanges calling for much greater clarity.
SEC chairman Gary Gensler has insisted that clear rules for the crypto industry already exist — despite several exchanges calling for much greater clarity.
"Crypto tokens — without prejudging any of them — you can look at most of them, I'm not going to say a number, and you can find a group of entrepreneurs with a Twitter site, with a website, with individuals ... and I bet most of you are not visited by decentralized, non-existent management. If you're going to get a meeting with somebody from crypto tokens ... there's a human, there's a group of entrepreneurs, or they're paying a lobbyist or a lawyer to meet with you.
The SEC chairman went on to describe crypto exchanges and lending platforms as "storefronts" that need to come into compliance with existing rules — and he was critical of many businesses in the space.
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