SEC Chairman Gary Gensler Warns of Bitcoin Risks
In a thread posted two days before the decision on spot Bitcoin ETFs, SEC Chairman Gary Gensler cautioned about the volatile nature of crypto assets.
Although he did not explicitly mention the upcoming event, industry experts interpreted his post as a positive sign for a potential ETF approval.
As companies submit updated proposals for product launches, Gensler’s recommendations could serve as a guide in ensuring compliance with existing regulations.
However, this warning comes on the heels of the Education Department’s previous caution against the risks associated with digital assets.
Gensler also emphasized the dangers posed by fraudulent activities in the crypto industry, citing past incidents of insolvency, loss of value, and various scams targeting retail investors.
