Gensler Rips Crypto Exchanges Over Lack of Transparency and Potential Conflicts

SEC Chair Gary Gensler has expressed concerns about cryptocurrency exchanges, stating they engage in practices that would be unacceptable on traditional markets like the New York Stock Exchange (NYSE).

In an interview with CNBC, Gensler pointed out that crypto exchanges fail to provide adequate disclosures to investors, which he believes is a significant issue. He also highlighted potential conflicts of interest, suggesting that some platforms might trade against their customers.

Gensler emphasized the need for regulatory oversight and adherence to standards similar to those in traditional financial markets. Without proper regulation, investors remain at risk, according to him.