According to The Block, U.S. SEC Chairman Gary Gensler said on Wednesday that if cryptocurrency trading platforms manipulate the market, disclosing information will not prevent them from being sued by regulators.

He said the companies are not immune from lawsuits if they publish "misleading" information that causes traders to put money into products they otherwise wouldn't invest in. "Disclosure doesn't necessarily protect bad actors, you can't just disclose and call it a day."

Gensler also said Wednesday that most cryptocurrency companies still do not publish disclosures at all. Cryptocurrency trading platforms have long operated in a way that trading platforms in traditional financial markets would never be allowed to.