SEC Chairman Gary Gensler has warned crypto exchanges to comply with regulations and protect investors, as the SEC is engaged in legal battles with major exchanges such as Coinbase, Kraken, and Binance. Gensler emphasized the prevalence of fraudsters and scammers in the crypto industry and highlighted the imprisonment or pending extradition of prominent crypto figures in 2022. He stated that basic protections in the securities laws are necessary for investors in the field of cryptocurrencies. Despite calls for regulatory clarity, Gensler believes there is already enough clarity through existing securities laws. The SEC's anti-crypto policies have drawn criticism from some lawmakers, but also have support from individuals like Elizabeth Warren. Gensler and SEC commissioners are set to face questioning from Congress in the coming week.



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