Securities and Exchange Commission Chairman Gary Gensler shows that he won't be easy on the industry that's still largely unregulated. "We just don't have enough investor protection in crypto finance, issuance, trading, or lending," he said in his prepared testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. "This asset class is rife with fraud, scams, and abuse in certain applications," he said. "We can do better." The SEC is also working with the Commodity Futures Trading Commission, Federal Reserve, Department of Treasury, and Office of the Comptroller of the Currency with respect to investor protection is the crypto markets. "Technologies don't last long if they stay outside of the regulatory framework," he said in a hearing that will take place on Tuesday. Despite regulatory risks weighing on digital assets, Bitcoin could reach $100K with bulls back in control - Bloomberg. Previously, (August 4) SEC Chair Gary Gensler:
