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SEC Should Amp Up Crypto Crackdown, Investor Advocates Say

  • Groups say market is in ‘urgent’ need of more scrutiny
  • They urge SEC to ‘vigorously’ apply existing rules to tokens
Gary Gensler
Gary Gensler

Photographer: Andrew Harrer/Bloomberg

From

Many cryptocurrency projects are flouting investor-protection rules and deserve more scrutiny, a group of investor advocates told Securities and Exchange Commission Chair Gary Gensler in a Monday letter.

The letter, signed by the Americans for Financial Reform Education Fund, the Consumer Federation of America and others, singled out stablecoins, crypto lending and exchanges as deserving of increased SEC attention.