SEC Chair Gensler Calls Crypto A 'Field Rife With Fraud, Abuse And Misconduct'
Portfolio Pulse from Murtuza Merchant
SEC Chair Gary Gensler expressed significant concerns about the integrity of the cryptocurrency sector, citing 'fraud, abuse, and misconduct'. He did not directly answer a query on the filing of applications for a Bitcoin ETF. The SEC has recently charged leading cryptocurrency exchanges, Coinbase Global Inc. (NASDAQ:COIN) and Binance (CRYPTO: BNB), for violations of U.S. securities regulations. In response, U.S. Rep. Warren Davidson proposed a bill to reform the SEC and remove Gensler.
September 12, 2023 | 3:55 pm
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NEGATIVE IMPACT
Binance has been charged by the SEC for violations of U.S. securities regulations.
The SEC's charges against Binance for regulatory violations could negatively impact the company's reputation and investor confidence, potentially leading to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Coinbase Global Inc. has been charged by the SEC for violations of U.S. securities regulations.
The SEC's charges against Coinbase for regulatory violations could negatively impact the company's reputation and investor confidence, potentially leading to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80