Gensler Slams Crypto Exchanges Over Lack of Transparency and Potential Conflicts of Interest

SEC Chair Gary Gensler has expressed concerns about cryptocurrency exchanges, stating that they engage in practices that would not be permitted on traditional markets like the New York Stock Exchange (NYSE).

Gensler pointed out that crypto exchanges lack transparency and fail to provide necessary disclosures to investors.

He also highlighted a potential conflict of interest, suggesting that some platforms might trade against their customers, which would be unacceptable in regulated environments.

The SEC Chair emphasized the need for regulatory oversight, arguing that crypto exchanges should adhere to the same standards as traditional financial markets.