US SEC Chair Gensler calls on Congress to help rein in crypto 'Wild West'

Gary Gensler (pic) said the crypto market involves many tokens which may be unregistered securities and leaves prices open to manipulation and millions of investors vulnerable to risks.

WASHINGTON: The chair of the U.S. Securities and Exchange Commission (SEC) on Tuesday called on Congress to give the agency more authority to better police cryptocurrency trading, lending and platforms, a "Wild West" he said is riddled with fraud and investor risk.

Gary Gensler (pic) said the crypto market involves many tokens which may be unregistered securities and leaves prices open to manipulation and millions of investors vulnerable to risks.