U.S. Securities and Exchange Commission boss Gary Gensler recently reposted an investor alert about cryptocurrencies.
As reported by U.Today, the scam warning was originally issued by the agency in May.
The SEC has stated that bad actors tend to take advantage of innovative technologies in order to promote investment scams.
In its recent investor alert, the agency specifically mentioned celebrity meme coins in the wake of their increasing popularity.
"The SEC conveniently issues these “alerts” (or, more specifically, reissues the same one) whenever anything major happening on the Hill in crypto they don’t like," Alexander Grieve, the head of government relations at prominent venture capital firm Paradigm said in a social media post on the X social media network.
Yuri MolchanSuch posts can coincide with "some Senators releasing a cryptocurrency bill," according to Grieve.
In May, the SEC boss also warned that many cryptocurrencies are unregistered security.
The head of the highly influential regulatory agency has attracted a lot of criticism within the crypto industry due to his seemingly hostile stance toward digital assets. As reported by U.Today, Ripple CEO Brad Garlinghouse recently slammed Gensler as "the Luddite of his time."
In the meantime, Slavkin Corzo, Gensler's former aide, might end up lobbying for crypto firms after joining policy firm Mindset.
Yuri Molchan
Denys Serhiichuk