In his Bloomberg interview on Friday, Gensler took particular issue with how crypto exchanges often play multiple roles. He suggested that their business models can create significant conflicts of interest.
“We don’t let the New York Stock Exchange also run a hedge fund and trade on the exchange; why would we do it here?” Gensler said.
Gensler said that firms should expect additional enforcement actions by the agency unless they start following the regulator’s rules.
Source: SEC’s Gary Gensler: Crypto Industry Mixes Customer Funds With Its Own – Bloomberg
