U.S. SEC Chairman issues risk warning for crypto investments

According to BlockBeats news, on January 8, SEC Chairman Gary Gensler issued a risk warning to crypto investors on his social platform: "Those who provide crypto asset investments/services may not comply with applicable laws, including federal securities laws. Investment in crypto asset securities Investors should understand that they may be deprived of critical information and other important protections related to their investments. Additionally, investments in crypto-assets can also be extremely risky and are often highly volatile. Many major platforms and crypto-assets have gone bankrupt and/or Loss of value. Cryptoasset investments continue to face significant risks.” Gensler also said that fraudsters continue to take advantage of the growing popularity of crypto assets to lure retail investors into scams. These investments continue to be rife with fraud – fake token offerings, Ponzi and pyramid schemes, and outright theft where project promoters disappear with investors’ money.