Gensler Slams Crypto Exchanges Over Lack of Transparency

SEC Chair Gary Gensler has again expressed concerns about cryptocurrency exchanges. In an interview with CNBS, he stated that these platforms engage in practices that would be unacceptable on traditional exchanges like the New York Stock Exchange (NYSE). Gensler believes crypto exchanges fail to provide necessary disclosures to investors and may even trade against their customers.

Gensler emphasized the need for regulatory oversight, saying that crypto exchanges should adhere to the same standards as traditional financial markets. Without proper regulation, he warned, investors remain at risk.

The SEC Chair's comments come amid increasing calls for tighter crypto regulation and ongoing investigations into exchange practices.