U.S. SEC Chairman: It's hard to believe that crypto platforms and users engaging in counterparty trading for profit can protect investors' interests

ChainCatcher message, SEC Chairman Gary Gensler stated during his appearance on Bloomberg TV that exchanges like Binance are fabricating trading volumes and have corruption issues. Crypto platforms are only creating wealth for themselves, and they are acting as counterparties to their users. The SEC finds it hard to trust these "casino operators" to protect investors' interests. The institutional boundaries and business models applicable to crypto systems have not been seen in any other financial sector. (Source link)