SEC Will Use All Available Tools to Crack Down on Crypto Firms That Aren’t in Compliance With Its Rules, Says Chair Gensler

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has revealed that the regulator will use all available tools to bring crypto platforms into compliance with its rules. In addition, the SEC chief said: “Proof of reserves is neither a full accounting of the assets and liability of a company, nor does it satisfy segregation of customer funds under the securities laws.” SEC Chair Gensler on Crypto Regulation SEC Chairman Gary Gensler stressed the importance of bringing crypto platforms into compliance after the securities regulator filed charges against former Alameda Research CEO Caroline Ellison and former FTX