Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), reiterated his criticism of the cryptocurrency industry in an interview with Bloomberg on June 25. Gensler pointed out that although the industry claims to be decentralized, it is actually highly centralized and seriously non-compliant.
Gensler not only downplayed the decentralized nature of the crypto industry, but also criticized some platforms for centralized and hybrid behavior, saying that these behaviors are unacceptable in other fields. He also listed some violations in the industry, including customer trading, front-loading transactions, and accepting investments before listing.