TechFlow news, according to The Block, SEC Chairman Gary Gensler said Wednesday that if cryptocurrency trading platforms manipulate the market, disclosing information will not shield them from enforcement actions by regulators.
He stated that if these companies publish "misleading" information that leads traders to invest funds into products they otherwise would not have invested in, they still cannot avoid litigation. "Disclosure does not necessarily protect bad actors—you can't just disclose and walk away."
Gensler also said on Wednesday that most cryptocurrency firms still fail to provide disclosures at all. The way cryptocurrency trading platforms have long operated would never be permitted for traditional financial market exchanges.
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