Gary Gensler: The size of the crypto securities market is much smaller than the U.S. bond market, and non-compliance causes investors to suffer losses

U.S. SEC Chairman Gary Gensler did not seem to want to talk about cryptocurrencies in an interview with Bloomberg Television after a meeting related to the U.S. Treasury market on Wednesday. When asked about the status of the Bitcoin spot ETF application, he said: "The US Treasury bond market with a scale of 26 trillion US dollars is actually the basis of our entire capital market. It is the way we fund the government and the way the Federal Reserve sets currency Policy. This is how we maintain the dominance of the U.S. dollar globally. Do you want to ask me about cryptocurrencies? What are your top priorities? The U.S. Treasury market is a very important, very important market. The crypto securities market Not only is it much smaller, but it's not how we fund the government. It's not how we conduct monetary policy. For a lot of investors, they're getting hurt in this market. They're getting hurt because There's so much noncompliance in this market. It's not just a matter of not complying with securities laws, it's also a matter of not complying with a whole host of other laws." (The Block)