Gensler Targets Crypto Exchanges Over Lack of Transparency and Potential Conflicts

SEC Chair Gary Gensler has criticized cryptocurrency exchanges for engaging in practices that would not be allowed on traditional markets like the New York Stock Exchange (NYSE).

Gensler pointed out that these platforms fail to provide necessary disclosures to investors, leading to a lack of transparency.

He also highlighted potential conflicts of interest, suggesting that crypto exchanges might be trading against their customers, which would not be acceptable on regulated exchanges.