The U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has faced backlash from the crypto community after using a dog-goldfish analogy to explain the importance of compliance with security laws in a video tweet on April 27.
In his analogy, Gensler said that crypto platforms were offering “investment contracts” and calling them anything but would be like walking a dog without a leash and calling it a goldfish to avoid legal issues.
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