SEC Chair Gensler and US Senator Lummis clash over crypto regulation

Former SEC attorney, John Reed Stark, has warned crypto investors to get out of crypto platforms due to the regulatory and law enforcement siege that has only just begun. Stark emphasized that crypto trading platforms are high-risk, perilous, and inherently unsafe, lacking the protections afforded to participants in other financial markets that fall under the purview of the SEC. He argued that the crypto industry has been operating outside the bounds of what financial markets in the U.S. have traditionally had to adhere to and needs to come into regulatory compliance.