The New York Stock Exchange can't actually also run a hedge fund on and trade against their customers.
Editor's note · Context
Gensler contrasts regulations of traditional exchanges with crypto exchanges.
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We are a disclosure-based regime, and so when the investing public is anticipating profits based on the efforts of others, it is best that those others, you know, give full, fair, and truthful disclosure.
Well, what do you say to the person who has to defend themselves in one of these messaging cases? Do you apologize? Do you thank them?
I really, I want to thank this Committee for the approval last week of the funding the SEC at the levels that you just mentioned.
I am concerned that the SEC has moved well beyond its role as a market regulator, and is seeking to make policies that are both beyond its authority and destructive to our economy.





