More crypto lawsuits coming soon, warns ex-SEC chief

In light of the ongoing crackdown on digital assets, regulatory experts claim that providers of cryptocurrency exchange-traded funds are having difficulty positioning their offerings as reliable investments.

At a time when investors are at risk, Stark stated that the commission would not be allowed to do anything. He continued, “It feels like a new lawsuit is being filed against the cryptocurrency business every day.”

Gary Gensler, chair of the U.S. SEC, has already begun taking harsh enforcement measures against some of the largest cryptocurrency firms. This includes exchanges like Kraken and Gemini as well as the lender for digital assets, Genesis. These precipitous drops triggered the bankruptcy of several previously well-known enterprises, including loan platform Celsius Network and Bitcoin hedge fund Three Arrows Capital.

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