Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), talked about crypto regulation last week, warning the public about the products that crypto lending platforms are offering. Gensler views crypto lending platforms’ offered products, that promise high returns to investors in return for their crypto, as “too good to be true”.

Following the recent crypto lender Celsius Network’s withdrawal freeze, the U.S. Treasury Department calls for urgent crypto regulation, highlighting the importance of having a framework to reduce the risks posed by digital assets.