Gary Gensler Shared His Views On BONK, SUSHI & Other Crypto ETFs
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1 SEC Chair, Gary Gensler has appeared in an interview on a CNBC show, Squawk on the Street hosted by Jim Cramer and others.
2 The interview witnessed detailed discussions on the shortfalls of the crypto market and compared it with the NYSE.
3 Gary Gensler cites lack of disclosure in the crypto market as a reason for his views against crypto backed instruments.
Ahead of the 19th anniversary of the Securities and Exchange Commission, its chair, Gary Gensler, has appeared in a conversation with CNBC on the show “Squawk on the Street” with hosts Jim Cramer, David Faber and Carl Quintanilla.
In the conversation, he talked about the contribution of the SEC and various other topics related to finance and technological advancements in the financial industries, including the settlement cycle, the stock market and the crypto market.
He has been known for his negative comments on the crypto industry for so long, and his stance continues to remain the same. However, he did have a softer tone.
He compared the crypto market with the stock market, pertaining to bankruptcy cases, regulatory shortfalls and scam reports in the crypto industry.
He advises all the influential crypto market traders not to communicate things that can mislead the public and perform activities that can be manipulative, as transparency and disclosure can promote the growth of the crypto market.
Gensler slammed the crypto market for its lack of regulations, disclosures and manipulative market practices, as he stated, “These crypto exchanges are doing things we would never allow this New York Exchange to do.”
Towards the growth of the market, he added that there is competition potential among the public and private markets as they have the capability to improve the quality standards of the public market.
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