As the American Securities and Exchange Commission (SEC) continues its crackdown on crypto-related companies, Gary Gensler, the new head of the American regulator, said that the commission would do whatever it takes to stop fraudsters in the digital assets market.
He vowed to impose the rules consistently and aggressively. Reuters reported that Gensler expressed his desire to see more regulations and rules around the crypto market while talking at an annual regulatory conference of the financial institutions. He said,
This is quite volatile, one might say highly volatile, asset class, and the investing public would benefit from more investor protection on the crypto exchanges.
The recent remarks from the American regulator come after BTC and altcoins underwent a major corrections phase. The commission’s chair further stated that the commission would go after illicit activities in the crypto market that put hundreds of thousands of dollars under risk.
Currently, the leading financial regulator is pursuing a case against a prominent crypto company called Ripple over the allegations of trading its XRP tokens as illegal security.
