SEC Chair Evokes Ghost Of Great Depression To Slam Crypto's Lack Of Disclosures

  • By Grand News Network
  • |
  • November 8, 2023

Drawing parallels between today's cryptocurrency landscape and the financial markets of the 1920s, SEC Chair Gary Gensler has called for heightened disclosures to protect investors.

Gensler, speaking at the DC Fintech week, referenced Franklin D. Roosevelt's Truth in Securities Act, emphasizing the importance of clear and honest disclosures for investors: "I don't want folks to sort of mislead them or pick their pockets. That's all. Give them disclosure."

Providing accurate information is critical, he explained, especially when dealing with complex financial products that can perplex even seasoned experts.

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Gensler's reference to the 1920s serves as a cautionary reminder of the unchecked speculation that led to the Great Depression, a time of little investor ...

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