SEC Chief: Some Crypto Firms Skirting Disclosure Laws, Harming Market Efficiency

SEC Chair Gary Gensler believes some crypto firms avoid mandatory disclosure laws
Gensler argues disclosure promotes more efficient markets, better price discovery, and helps direct capital to productive uses
He says lack of registration and disclosure in crypto markets means no "disinfectant" like in traditional finance
Gensler recently declined to classify top cryptocurrencies like Ethereum as securities or commodities
The SEC has crypto-related filings in front of it that Gensler won't comment on due to ongoing proceedings