SEC Chairman Gary Gensler Describes the Cryptocurrency Market as "Full of Bad Actors".

The top financial police have made these statements in an interview with Bloomberg TV on January 8, in which he discussed enforcement actions under his leadership and addressed persistent compliance issues in the cryptocurrency field. Term Marked by Electronic Money Supervision In a conversation with David Gura, a 67-year-old man who will be leaving the U.S. Securities and Exchange Commission (SEC) in about a week, he raised the challenges that the digital asset industry poses, although it only accounts for less than 1% in the US $120 trillion capital market, but has attracted significant attention from regulatory agencies and the public. Since taking office, Gensler has overseen 100 enforcement actions related to cryptocurrencies, based on the groundwork laid by his predecessor Jay Clayton, who initiated 80 such cases during his tenure. These actions target fraud, deception, and securities law violations. According to him, most types of digital currency meet the criteria for securities and should be regulated as such. In addition, he claimed that many cryptocurrency projects operate outside legal boundaries, causing investors to bear significant risks. Gensler said: "Currently, the cryptocurrency market is flooded with bad actors. We have seen this over the past few years, with intermediaries—whether they call themselves exchanges, brokers, or custodians—not complying with securities laws and putting the public at risk." A former MIT professor also questions the existence of most cryptocurrencies on the market, believing that many of them will not survive. Furthermore, he criticizes the field for being overly influenced by speculation rather than fundamental factors, which he believes greatly contribute to its volatility. Expose the brand 'Anti-Electronic Money' The chairman of the SEC has faced criticism from cryptocurrency supporters for his enforcement-oriented approach to the industry. Some people, like Minnesota lawmaker Tom Emmer, have previously described his tenure as "destructive and lawless" in history. Others, like Ripple CEO Brad Garlinghouse, describe it as a "terrorist regime," rallying the industry behind pro-cryptocurrency candidates in November polls, witnessing Donald Trump's return to the White House and the most cryptocurrency-friendly Congress in history. As for myself, Gensler has accepted personal challenges when leading a high-level regulatory agency, he noted, "If you don't want to be attacked, you can't debate policy." However, he dismissed the description of himself as anti-cryptocurrency, pointing to his educational background at MIT, where he studied and taught blockchain technology, as evidence of his interest in this field. "My role as SEC Chair is to ensure investor protection and market integrity. It's not to be pro or con on any particular asset, but to ensure that the intermediaries and projects are complying with the law," he explained.

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