SEC Chair Warned of Crypto Exchanges Working Against Their Clients' Best Interests

SEC Chair Warned of Crypto Exchanges Working Against Their Clients’ Best InterestsAccording to Gary Gensler, some digital asset platforms “are trading against their customers” with their actions.

he is “intrigued” by the sector but wants investors to have maximum protection when dealing with bitcoin or altcoins.for Bloomberg News, Gensler expressed concerns that some crypto exchanges fail to protect their customers with the necessary security mechanisms. Some of these areas that people should be aware of include custody and market-making. The American opined that this “commingling” of services might not be in customers’ best interests.

Gensler reiterated that most digital assets fall under the Commission’s range. As such, exchanges providing crypto opportunities should register with the SEC, assuring that the regulator will bolster its enforcement efforts in the field in the future.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dillon Brooks on play that injured Gary Payton II: ‘If I were to take it back, I would’Dillon Brooks talked for the first time since he injured Gary Payton II on a play that sparked a debate about the NBA’s unspoken code.
Source: mercnews - 🏆 88. / 68 Read more »

Choosing a DeFi-Friendly Crypto Exchange | HackerNoonDeFi, or decentralized finance is a $70 billion independent financial services industry.
Source: hackernoon - 🏆 532. / 51 Read more »

Crypto exchange KuCoin reaches decacorn status in latest funding roundThe latest round follows its series A in November 2018, when it raised $20 million at a $100 million valuation.
Source: TheBlock__ - 🏆 464. / 53 Read more »

FTX poaches Fidelity exec as crypto exchange nears NY approvalFTX, the $32 billion global crypto exchange, is gearing up to take on the final frontier: New York.
Source: nypost - 🏆 91. / 67 Read more »

4 Must-Have Crypto Browser Extensions | HackerNoon'4 Must-Have Crypto Browser Extensions ' decentralizedinternet quicknode
Source: hackernoon - 🏆 532. / 51 Read more »

Chainflip Labs secures $10 million for cross-chain DEXA Berlin-based startup building a cross-chain, decentralized crypto exchange has raised $10 million from venture capitalists. RyanJamesWeeks Yewwwww Bento__boxx RyanJamesWeeks
Source: TheBlock__ - 🏆 464. / 53 Read more »