The US SEC’s Gary Gensler stated recently that crypto firms are skipping public disclosures. Check out the latest reports about this below.
SEC’s Gary Gensler addresses crypto firms that skip public disclosures
During a speech on securities disclosures, Gary Gensler, Chairman of the U.S. Securities and Exchange Commission, highlighted the crypto industry as an area of concern.
Gary Gensler, who has been leading the SEC, has been actively pursuing legal actions against companies that he believes are not complying with the regulations.
He has recently stated that digital assets companies are attempting to weaken the SEC’s disclosure regime, which mandates that companies must register their securities and provide investors with information about them.
“There are participants in crypto securities markets that seek to avoid these registration requirements,” he said in remarks prepared for an event at Columbia Law School.
“No registration means no mandatory disclosure.”
“Many would agree that the crypto markets could use a little disinfectant,” Gensler added.
The regulatory body is taking legal actions against a number of companies for their alleged failure to register as exchanges and for listing unregistered securities.
These companies include Coinbase Inc. and Binance. Additionally, there are reports that Ethereum (ETH) is under investigation, which could result in it being classified as a security, unlike Bitcoin.
In recent news, a Wall Street analyst has expressed an extremely bullish sentiment towards Bitcoin, stating that the cryptocurrency’s value could reach $200,000 by 2025.
There have been reports circulating about BTC’s price predictions, which you should check out.
Despite the fact that Bitcoin’s value has already surged by 65% to approximately $68,000 since the beginning of 2021, several Wall Street analysts believe that there is still significant potential for growth.
Gautam Chhugani at Bernstein predicts that Bitcoin will reach $150,000 by mid-2025, which implies a price increase of 120% (or $82,000) over the next 12 to 18 months.