The SEC’s Crypto Crackdown Is Just Getting Started After FTX Blowup
- Chair Gary Gensler compares crypto intermediaries to casinos
- Proof-of-reserves aren’t enough to protect investors, he says
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The US Securities and Exchange Commission is just getting started with its crackdown on crypto firms that refuse to abide by its rules.
SEC Chair Gary Gensler said in an interview on Thursday that the agency’s patience is wearing thin for digital-asset exchanges and other firms that shirk its regulations. Just hours earlier, the watchdog - which had already filed a lawsuit against FTX co-founder Sam Bankman-Fried — sued two more prominent crypto executives for their alleged roles in the collapse of the digital-asset exchange.