TechFlow news: U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler posted a tweet reminding users considering investing in crypto assets to pay attention to the following points:
- Institutions offering crypto asset investments/services may not comply with applicable laws, including federal securities laws.
- Individuals investing in crypto asset securities may lose access to critical information related to their investments and other important protections.
- Investing in crypto assets can be extremely risky and often volatile. Many major platforms and crypto assets have become insolvent and/or lost value.
- Investments in crypto assets continue to face significant risks.
- Fraudsters continue to exploit the growing popularity of crypto assets to lure retail investors into scams.
- Fraud exists in these investments, including fake token offerings, Ponzi schemes and pyramid schemes, as well as outright theft where project sponsors disappear with investors' money.
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