U.S. SEC Chairman: The crypto market is a hotspot for fraud, and investors are not receiving the necessary information disclosures about relevant assets

ChainCatcher news, according to CNBC, during an interview, SEC Chairman Gary Gensler stated that the SEC oversees a capital market of $110 trillion, of which about half is the stock market and half is the bond market and other markets. Cryptocurrency is just a small part of the entire market. But it represents a huge portion of scams, fraud, and issues in the market, as much of what exists in this space does not comply with the protections of securities laws.

The SEC cannot talk to any one company, but stepping back, in the realm of crypto assets, without prejudging any of them, according to the interpretation of the U.S. Supreme Court, many of these tokens are securities as defined by local laws, so we comply with that law, while investors do not receive the necessary disclosures about these assets.