Outgoing SEC Chairman Gary Gensler said in an interview with Bloomberg TV on Wednesday that there is still a lot of work to be done in regulating altcoins and intermediaries in the digital asset market.
Gensler believes that everyday investors still do not get enough disclosure or information from digital asset companies. Under Gensler's leadership, the SEC has won and lost several court cases for arguing that multiple crypto companies are evading registration and disclosure requirements.
"I have never seen a field so driven by emotions and so indifferent to fundamentals," Gensler said, adding that he believes many crypto projects will not survive.