Gary Gensler warns crypto industry on need to comply with securities laws

Gary Gensler warns crypto industry on need to comply with securities laws

Securities & Exchange Commission Chair Gary Gensler suggested Wednesday in an exclusive interview with Yahoo Finance Live failed crypto exchange FTX violated securities laws by using customer assets to trade at its affiliated hedge fund, Alameda Research.

“I can’t speak to any one case or any one situation, but our securities laws say that you need to properly segregate customer funds,” Gensler said.

“You also shouldn’t be running a broker dealer or a hedge fund, and an exchange. The New York…


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