US SEC Commissioner: There is fraud in the cryptocurrency market
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Rampant fraud: Commissioner Crenshaw made it clear that there is widespread fraud in the cryptocurrency market. This may be due to the anonymity of the market, the lag in regulation, and the immaturity of some investors. Fraud not only harms the interests of investors, but also undermines the overall credibility and stability of the market.
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Market opacity: In addition to the problem of fraud, she also emphasized the opacity of the cryptocurrency market. Junyang--Exchange--Flow+: 954737157 This opacity makes it difficult for regulators to effectively monitor market dynamics and protect investors from potential risks. At the same time, it also increases the possibility of market manipulation and price volatility.
4.
Insistence on the definition of ETFs: On the issue of Bitcoin ETFs, Commissioner Crenshaw insisted that these products do not meet the definition and regulatory standards of traditional ETFs. She believes that launching these products as ETFs may mislead investors and weaken the effectiveness of investor protection mechanisms. Therefore, she opposes the approval of these products as ETFs.
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Consideration of public interest: When weighing whether to approve Bitcoin ETFs, Commissioner Crenshaw emphasized the importance of public interest. She believes that in the current market environment, approving these products may further sacrifice investor protection and harm the public interest. Therefore, she must oppose this.
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These views reflect the complexity and difficulty of regulators in dealing with challenges in the cryptocurrency market. On the one hand, regulators need to protect investors from fraud and opaque markets; on the other hand, they also need to balance the needs of market innovation and development. Therefore, when formulating relevant policies and regulatory measures, regulators need to consider various factors comprehensively and seek the best balance.
For investors, these views also remind them that they need to be cautious and rational when participating in the cryptocurrency market. They should fully understand the market risks and regulatory environment, and avoid blindly following the trend or believing in false information.
