“It’s a digital, scarce store of value, but highly volatile,” Gensler told CNBC. “And there’s investors that want to trade that, and trade that for its volatility, in some cases just because it is lower correlation with other markets. I think that we need greater investor protection there.”
According to Gensler, such investor protection would be similar to what is currently in place in stock and futures exchanges. In addition, he believes there needs to be an authority that brings “anti-fraud and anti-manipulation authority … to the crypto exchanges.”
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