SEC Chair Warns: Many Cryptocurrencies Are Destined for Failure
SEC Chair Gary Gensler has issued a stark warning about the crypto industry’s future. Calling it speculative and sentiment-driven with many projects lacking the stability to endure.
He believes that thousands of crypto ventures will fail, likening them to risky venture capital investments or pump-and-dump schemes. Gensler, who steps down on January 20, leaves behind a legacy of aggressive regulation. Overseeing more than 100 enforcement actions.
Despite criticism from some lawmakers, Gensler’s policies and his appointees are expected to influence the sector’s future. Pushing for greater compliance and investor protection.
Clever Robot News Desk 15th January 2025
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