SEC Chairman warns of cryptocurrency risks, where should investors go?
🔔 SEC Chairman Gary Gensler recently issued a warning statement on social media, specifically targeting those "mimi coins" that celebrities have been promoting, such as Dogecoin, Shiba Inu, and PEPE. Gensler questioned whether the SEC's warning during the congressional crypto legislation discussion had ulterior motives, sparking considerable controversy in the industry.
🔥 Ripple CEO Brad Garlinghouse called Gensler a "technophobe" and believed that the SEC's strategy was too restrictive on innovation. And Gensler's former employee Slavkin Corzo has just joined the policy firm Stypes, which has made everyone more concerned about the "revolving door" phenomenon between regulation and the private sector.
⚖️ The SEC's goal is to protect investors while promoting innovation, but balancing the two is not easy. Some people advocate stricter regulation to prevent fraud, but others believe that excessive regulation will force crypto companies to leave.
📉 As the crypto industry expands, Gensler's warning and the SEC's actions will have a profound impact on U.S. digital asset regulation. Investors, please do your research and act with caution!
