SEC Chair Gensler: Crypto Exchanges Are Trading Against Their Customers Often

SEC Chair Gensler: Crypto Exchanges Are Trading Against Their Customers Often


The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says cryptocurrency exchanges are “trading against their customers often because they’re market-marking against their customers.” He has raised concerns over crypto trading platforms “commingling” services.

SEC Chair Gensler on Crypto Exchanges Trading Against Customers

SEC Chairman Gary Gensler said in an interview with Bloomberg News Tuesday that some cryptocurrency exchange platforms may be betting against their own customers.

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Gensler expressed concerns that crypto exchanges are not segregating different parts of their businesses, such as trading, custody, and market-making. He warned that the “commingling” of services may hurt customers.

Noting that the problem of “platforms trading ahead of their customers” is widespread in the crypto space, the SEC chair asserted:

In fact, they’re trading

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