Deep Tide TechFlow News, on January 9, the outgoing chairman of the U.S. Securities and Exchange Commission (SEC) Gary Gensler stated in a media interview that the cryptocurrency field is filled with "bad actors" and is a "non-compliant" area, where market sentiment affects it far beyond the fundamentals. Gensler emphasized that although Bitcoin accounts for 60% to 80% of the cryptocurrency market's value, the remaining 10,000 to 15,000 cryptocurrency projects also raise funds from the public, many of which ultimately cannot survive, and there are many "pump and dump" scams and other issues. Gensler mentioned that he has achieved some results in the field of cryptocurrency regulation since taking office, continuing the work of his predecessor Jay Clayton. Over the past four years, the SEC has initiated about 100 enforcement actions in the cryptocurrency field, accounting for 5% of its enforcement work. He is proud of the SEC's regulatory work in the cryptocurrency field but believes there is still much work to be done.

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