SEC Chairman Gensler reiterates that crypto assets are dangerous – as Bitcoin ETF decision approaches | CoinDesk JAPAN

The entire crypto industry and much of the U.S. financial sector is eagerly awaiting word from the U.S. Securities and Exchange Commission (SEC) on whether it will approve a Bitcoin spot exchange-traded fund (ETF). SEC Chairman Gary Gensler chose this moment to broadly warn investors about the dangers of getting into digital assets.

As he has done many times in the past, Chairman Gensler posted on It sounded the alarm.

Chairman Gensler said, “Companies that provide crypto-asset investments and services may not comply with applicable laws, including federal securities laws,” and that there are many things to keep in mind regarding crypto-assets. He advised his followers. Another post said, “Scammers continue to exploit the growing popularity of crypto assets to lure retail investors into scams.”

It’s unclear whether Gensler’s words represent the final straw before the SEC approves ETF applications as a key deadline approaches, as many expected. The moment is widely seen as a watershed moment, as fully regulated physical ETFs will make trading digital assets much easier for even the most casual investors. Some estimates indicate this could inject tens of billions of dollars into the industry.

Of course, whether crypto businesses are properly addressing securities laws is a question that is still being worked out in numerous court cases. The SEC has lost some cases, but won others. These include a recent decision in the Terraform Labs case that found the SEC was correct that the company was improperly promoting unregistered crypto securities.

｜Translation and editing: Rinan Hayashi
｜Image: Jesse Hamilton/CoinDesk
｜Original text: With Bitcoin ETF Decision Looming, SEC Chair Gensler Says (Again) That Crypto Is Dangerous