SEC Chairman Gary Gensler spoke about cryptocurrencies after the Robinhood move. Bitcoin rose above $65,000 yesterday as it started the new week positively.
However, it fell to $63,000 after the news that the SEC sent a Wells Notice to the US-based cryptocurrency platform Robinhood.
While the SEC-Robinhood move remains hot on the agenda, SEC Chairman Gary Gensler spoke to CNBC's Andrew Sorkin.
Answering the questions, Gensler said:
“Many cryptocurrencies are securities under the law. However, investors are not given the explanations they need.
“Cryptocurrencies continue to be a big part of fraud, fraud and problems in general.”
*This is not investment advice.