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Jim Cramer wants the SEC to investigate the crypto industry

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Jim Cramer is back at it, chatting about cryptocurrencies while making yet another cautionary statement about assets.

American economists are the US Securities and Exchange Commission (SEC) conduct research across the cryptocurrency business.

Cramer said he doesn’t trust banks and Bitcoin is one of the things he would never, never, ever get involved with or even consider doing in the future.These statements were made by Kramer during an interview given to CNBC December 23rd.

I don’t trust deposit banks, so I won’t touch virtual currency even after a million years.

Jim Cramer

Responding to a question about the difference between centralized and decentralized crypto platforms, the economist said neither kind of platform has regulation and neither type wants regulation.

In addition to this, he once again advised everyone who has invested in cryptocurrencies to make every effort to withdraw their funds before it is too late.

Kramer also offered his thoughts on Gary Gensler, head of the U.S. Securities and Exchange Commission (SEC). As a result, economists believe the SEC needs to act quickly to begin enforcing regulations on bitcoin companies.

He said it’s a process of making money, adding that he opposes the idea that “cretin” should be able to generate money and cheat others. , he said, outperforming the worst performers in .

Following FTX and Mazars’ recent unsuccessful decision to stop auditing cryptocurrency businesses, US government agencies, more specifically the Securities and Exchange Commission (SEC), are investigating reserves (POR). doing. Recent heightened level of scrutiny.

Paul Munter, who serves as the SEC’s chief accountant, emphasizes why investors shouldn’t place too much reliance on the POR’s audits and claims.

According to a report from WSJMorethe SEC is concerned that investors may be receiving a false sense of confidence from reports produced by companies.

We caution investors to be very careful with some of the claims made by cryptocurrency companies. Investors should not place undue reliance on the mere fact that a company has certified its reserves from an audit firm.

Paul Munter

Munter went on to explain that investors do not have access to sufficient information to determine whether the company has sufficient assets to meet its obligations based on the results of the POR audit.

Government agencies are getting better knowledge of what’s going on in the market, SEC officials told the WSJ.

Munter went on to say that if they identified a pattern of facts that we considered problematic, they would consider referring the matter to law enforcement.

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