Gary Gensler, Chairman of the U.S. SEC: Using algorithms or artificial intelligence models to defraud the public is fraud

Gary Gensler, chairman of the U.S. SEC, said that whether it is using algorithms or artificial intelligence models to defraud the public, it is fraud. This is not just a problem we face, other agencies such as the Federal Trade Commission will also face similar situations. The U.S. SEC is focusing on how to reduce costs in the system every day. It needs to reduce costs through competition, transparency and other means, and ensure market accessibility. At the same time, we must also pay attention to the resilience of the market, such as enhancing the robustness of the backend and infrastructure through measures such as central clearing. (Jinshi)