The cryptocurrency industry is “rife with fraud and hucksters and grifters”, one of the United States’ top financial regulators has told the BBC.
The chair of the US Securities and Exchange Commission (SEC), Gary Gensler, says the “investing public around the globe has lost too much money” because of crypto companies not following the laws his agency tries to enforce.
It comes as the industry is spending millions of dollars on political donations, trying to influence the outcome of November’s US elections in the hope of more favourable future laws.
In addition to the presidential battle between Donald Trump and Kamala Harris, all 435 districts in the House of Representatives are up for re-election, as well as 33 of the 100 seats in the Senate
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