Share this article
SEC’s Gary Gensler Sees Plenty of ‘Noncompliance’ Across Crypto Industry
SEC Chair Gary Gensler spoke on Bloomberg TV Tuesday, addressing questions around crypto regulation.
Updated May 11, 2023, 4:19 p.m. Published Jul 19, 2022, 6:22 p.m.
The broader cryptocurrency industry contains “a lot of noncompliance” and the U.S. Securities and Exchange Commission (SEC) is continuing to develop its regulatory framework, SEC Chair Gary Gensler said Tuesday on Bloomberg TV's "Balance of Power" show.
Gensler mentioned trading and lending platforms that have taken in money and in some cases failed, saying those businesses fall under “classic parts of the securities laws.”
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“We at the SEC are going to do what we can,” Gensler said, but added there are currently too many platforms that haven’t properly complied with the law and registered accordingly.
When it comes to the crises faced by many crypto lenders and exchanges recently and what type of regulation is now needed, Gensler said "it's a mixture of things," including collaborating with market participants and reworking some investor protections. And he noted that the SEC needs to be “technology neutral” yet still protect the public.
If crypto is to continue, more trust in the system is necessary, he said. With respect to more regulation, Gensler said the SEC already maintains “a lot of laws on the books that have been there for decades.”
He said many crypto tokens have attributes of being promotional and raising money from the public and promised the SEC will “continue to bring robust enforcement actions."
Read more: SEC’s Gensler Reiterates Bitcoin Alone Is a Commodity. Is He Right?
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
