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During a recent speech at a Columbia Law School conference, U.S. SEC Chairman Gary Gensler emphasized the importance of disclosure in financial markets. Gensler highlighted the need for disclosures related to executive compensation, climate, and cyber risks, following the SEC’s recent adoption of rules requiring companies to disclose climate-related risks.
According to Gensler, disclosure plays a crucial role in ensuring efficient markets and protecting investors. He also noted that some participants in the crypto securities markets try to avoid registration requirements, which results in a lack of mandatory information disclosure.
Gensler has consistently urged cryptocurrency exchanges to register with the SEC and emphasized that cryptocurrency firms are subject to the same rules as traditional financial companies. Under his leadership, the SEC is increasing pressure on the cryptocurrency industry, with lawsuits already filed against major players like Binance and Coinbase.
In a separate statement, Gensler criticized cryptocurrencies, warning that investing in them can be risky and unstable. Following Bitcoin’s all-time high, Gensler compared the cryptocurrency to a roller coaster and stressed the importance of evaluating its fundamentals.
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