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Unregulated Crypto Markets Will ‘Not End Well,’ SEC Chair Says

Gary Gensler
Gary GenslerPhotographer: Bill Clark/CQ Roll Call/Bloomberg

U.S. cryptocurrency markets and related platforms will “not end well” if they stay outside the purview of regulators, according to Securities and Exchange Commission Chairman Gary Gensler.

“There’s trading venues and lending venues where they coalesce around these, and they have not just dozens but hundreds and sometimes thousands of tokens on them,” Gensler said Monday at the Code Conference in Beverly Hills, California. “This is not going to end well if it stays outside the regulatory space.”