The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, criticized the crypto industry for being “rife with fraud” and called for compliance from the industry. He compared virtual currencies to the wild west, where bad actors deceive customers using decentralized technology. Gensler also questioned the anonymity achieved through blockchain networks while acknowledging Bitcoin as the progenitor of cryptocurrencies. The article encourages readers to sign up for crypto analysis, news, and updates.

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