U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler penned a post two days before the Bitcoin ETF approval deadline.
In his messages, Gensler highlighted concerns that cryptocurrency companies might not comply with relevant securities laws, potentially depriving investors of essential information and necessary protections.
Gensler underscored the considerable risks and volatility associated with investing in crypto assets, cautioning that cryptocurrency exchanges and tokens can face financial challenges.
Additionally, he emphasized the persistent threat of scammers using cryptocurrency to deceive and defraud investors, with fraudulent schemes thriving in the crypto market.
https://twitter.com/GaryGensler/status/1744383654174900440?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener
The SEC issued a cautionary message to investors on Jan. 6, urging them to exercise vigilance and avoid succumbing to the “fear of missing out” (FOMO) phenomenon. The warning underscores the potential risks of investing in the crypto market, encompassing both cryptocurrencies and NFTs.
As per the regulator, the optimal strategy to safeguard oneself during market fluctuations involves crafting an investment portfolio incorporating diverse assets such as stocks, bonds, and cash.
Additionally, the SEC asserts that allocating securities to specific industry sectors is a more effective approach.
On Jan. 8, companies updated their filings, disclosing their commission details.
Here are the proposed commission rates by various firms:
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