“The lack of compliance by these crypto platforms means that you don’t have basic investor protections,” Gensler said in his “Office Hours” video series. “These are things like rulebooks and surveillance to prevent fraud and manipulation. Or appropriate custody and segregation of customer assets so they don’t get misused or abused or simply become the property of the platform, especially if it goes into bankruptcy.”
Related posts
-
Washington State Accuses 2 Cryptocurrency Platforms of Defrauding Investors
Two cryptocurrency platforms face allegations of fraud by Washington State’s Department of Financial Institutions. Both companies... -
Russian Bitcoin Mining Industry Could Surpass the U.S. in 2 Years
Igor Runets, owner and CEO of Bitriver, commented on the growth potential of the Russian bitcoin... -
Nubank Lowers Cryptocurrency Trading Fees
Nubank, the Latam-focused fintech company, recently lowered its cryptocurrency...