Let us regulate ‘wild west’ of cryptocurrency, SEC chair urges

Gary Gensler seeks more authority from Congress to oversee a market rife with fraud, scams and abuse'

The chair of the US Securities and Exchange Commission (SEC) has called on Congress to give the agency more authority to police cryptocurrency trading, lending and platforms, a wild west" he said was riddled with fraud and investor risk.

Gary Gensler said on Tuesday that the crypto market involved many tokens that may be unregistered securities and left prices open to manipulation and millions of investors vulnerable to risks.