The head of the US Securities and Exchange Commission (SEC) issued a stern warning to investors, saying that the cryptocurrency market is “fraught with scams.”
In addition, Gensler said the following about Bitcoin ETF applications in a television show he participated in Bloomberg:
These submissions come to a 5 member commission so I can't comment but… crypto is highly speculative, no securities laws protection, no fair and accurate disclosure, platforms get rid of what the NYSE can't, full of scams and scammers.
*Not investment advice.
The SEC is a scam.