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SEC Chairman Says Crypto Investors Don’t Get Necessary Information Disclosures

Mary Liu

Summary: U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler was asked on CNBC Squawk Box about the agency’s recent Wells Notice against Robinhood Crypto, and Gensler said investors were not provided with important cryptocurrency disclosures. Gensler explained that “many of the crypto tokens are securities” and that investors do not receive the “required disclosures” about ...

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler was asked on CNBC Squawk Box about the agency’s recent Wells Notice against Robinhood Crypto, and Gensler said investors were not provided with important cryptocurrency disclosures.

Gensler explained that “many of the crypto tokens are securities” and that investors do not receive the “required disclosures” about these assets.

When asked by CNBC whether ether could be a security or commodity, Gensler did not directly address how it would be classified.

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