Jim Cramer Requested SEC To Undergo A Comprehensive Audit Of The Crypto Industry

Key Points:

• Jim Cramer strongly urges the SEC to conduct a comprehensive examination of the cryptocurrency industry.

• He believes that existing securities regulations are adequate for regulating the cryptocurrency business.

Jim Cramer requested SEC to undergo an audit of the Crypto and he would never invest in cryptocurrency. He the US Securities and Exchange Commission (SEC) to do a “major sweep” of the crypto business.

Jim Cramer requested SEC to conduct a comprehensive audit of the Crypto Industry and offered another warning about Bitcoin. Cramer is a former hedge fund manager who co-founded Thestreet.com, a website dedicated to financial news and education. On CNBC on Friday, he stated that he does not trust banks and that cryptocurrency is one of the things he will not touch in a million years.

When responding to the inquiry about the difference between centralized and decentralized platforms. He said that neither centralized nor decentralized platforms had or desired regulation. As a result, Cramer stated that he does not trust any platforms that do not want regulation and chose JPMorgan as a safe haven for his money. Furthermore, he recommended cryptocurrency investors to try to get their money out before it was too late.

Because he does not believe in this industry, Jim Cramer requested SEC to conduct a large crypto sweep to prevent people from producing money. Cramer also commented on Gary Gensler, the chairman of the United States Securities and Exchange Commission (SEC), who stated that existing securities regulations are appropriate for regulating the crypto industry. He wants the SEC to “get on and enforce” against cryptocurrency firms.

“It’s creating money. I don’t believe cretins should make money and then swindle people. These outperform even the weakest Nasdaq stocks”.

Cramer said

Last year, the Mad Money host liquidated all of his crypto holdings, including bitcoin, ether, and non-fungible tokens (NFTs). While the Federal Reserve continues to tighten the economy, Cramer has advised investors to avoid investing in speculative assets such as cryptocurrency. Earlier this month, he recommended investors to abandon the cryptocurrency market, noting that it is never too late to get out of a “bad position.”

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