Gensler: Crypto Market Full of 'Fraudsters' like 1920s Stock Market

SEC Chair Gary Gensler compares the current crypto market 

to the 1920s stock market, highlighting the presence of fraudsters. He advocates for the application of securities laws to the crypto market, drawing parallels to how they helped clean up the stock market in the 1930s. Gensler asserts that crypto securities should not be exempt from these laws and emphasizes the importance of compliance to prevent scams. However, his stance has faced criticism from the crypto industry, which accuses him of stifling innovation and exceeding regulatory boundaries.