'I caution the public. If it seems too good to be true, it just may well be too good to be true,' said the SEC chairman. crypto cryptocurrency bitcoin $BTC
SEC Chair Warns of 'Too Good to Be True' Crypto Products — US Treasury Calls for Urgent Regulation
“We’ve seen again that lending platforms are operating a little like banks. They’re saying to investors ‘Give us your crypto. We’ll give you a big return 7% or 4.5% return,'” Gensler was quoted as saying. “How does somebody offer in the market today and not give a lot of disclosure?”I caution the public. If it seems too good to be true, it just may well be too good to be true.Celsius Network’s decision to freeze withdrawals.
Following the crypto market sell-off, an official with the U.S. Treasury Department highlighted the urgent need for cryptocurrency regulation last week. Nothing that the Treasury Department is “monitoring activity in the crypto market,” the official told Reuters:
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