US SEC Chair Gensler Takes Firm Stance Against Cryptocurrency Amid Market Optimism

US Securities and Exchange Commission (SEC) Chair Gary Gensler has voiced strong criticism against the cryptocurrency ecosystem, citing rampant fraud and regulatory risks. Despite market optimism, Gensler warned of fraudulent practices, bankruptcies, and risks to investors. His remarks coincide with the surge in cryptocurrency market capitalization and a potential Ethereum ETF approval. However, Gensler’s tough regulatory stance has faced backlash from digital asset enthusiasts, triggering concerns over capital and talent flight from the US.