“The lack of compliance by these crypto platforms means that you don’t have basic investor protections,” Gensler said in his “Office Hours” video series. “These are things like rulebooks and surveillance to prevent fraud and manipulation. Or appropriate custody and segregation of customer assets so they don’t get misused or abused or simply become the property of the platform, especially if it goes into bankruptcy.”
Source: https://www.coindesk.com/policy/2023/04/27/us-secs-gensler-releases-another-video-dig-at-crypto-industry/?utm_medium=referral&utm_source=rss&utm_campaign=headlines