News Explorer — Targeting Robinhood, SEC Chair Gary Gensler Says Crypto Is Rife With Scams and Fraud

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May 7, 5:14 pm

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Targeting Robinhood, SEC Chair Gary Gensler Says Crypto Is Rife With Scams and Fraud

Robinhood Crypto has been served notice of impending enforcement action by the SEC, joining the list of companies targeted in the SEC's crypto industry crackdown. SEC Chair Gary Gensler believes that the focus on crypto is due to the prevalence of scams and fraud in the market, as well as the attention given to crypto by the financial media. Gensler reiterated his belief that most cryptocurrencies should be considered securities and that investors lack appropriate disclosures when investing in crypto.

Robinhood Crypto has been served notice of impending enforcement action by the SEC, joining the list of companies targeted in the SEC's crypto industry crackdown. SEC Chair Gary Gensler believes that the focus on crypto is due to the prevalence of scams and fraud in the market, as well as the attention given to crypto by the financial media. Gensler reiterated his belief that most cryptocurrencies should be considered securities and that investors lack appropriate disclosures when investing in crypto.

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