US SEC Chairman: Encryption Industry Needs Proper Disclosure and Compliance

Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), said on Bloomberg TV, "The cryptocurrency industry needs to make proper disclosures, comply with public policy more broadly, and avoid fraud and manipulation, otherwise the entire crypto space risks collapsing like a house of cards." .A lot of business models will need to be adjusted to be compliant, which can be hard work, but it will foster trust in the space.”