Gary Gensler's farewell message: The cryptocurrency field is full of "bad actors," and he is proud of the SEC's regulatory work in the cryptocurrency space

ChainCatcher news, according to the soon-to-be outgoing chairman of the U.S. Securities and Exchange Commission (SEC) Gary Gensler, who stated in a media interview on Wednesday that the cryptocurrency space is filled with "bad actors" and is a "non-compliant" area, with market sentiment impacting it far more than fundamentals.

Gensler emphasized that while Bitcoin accounts for 60% to 80% of the cryptocurrency market value, the remaining 10,000 to 15,000 cryptocurrency projects have also raised funds from the public, many of which ultimately fail, with a significant number of "pump and dump" scams and other issues.

Gensler mentioned that he has achieved some results in the field of cryptocurrency regulation since taking office, continuing the work of his predecessor Jay Clayton. Over the past four years, the SEC has initiated about 100 enforcement actions in the cryptocurrency space, accounting for 5% of its enforcement work. He is proud of the SEC's regulatory efforts in the cryptocurrency field but believes there is still much work to be done.