Gary Gensler, chairman of the United States Securities and Exchange Commission (SEC), shared his concerns about the potential dangers of digital currencies with an audience of U.S. soldiers.

In a virtual Twitter Spaces event hosted by the U.S. Army Cyber Institute, Gensler highlighted the risk of fraud and manipulation in the crypto market, as well as the possibility of illicit activities such as money laundering and the financing of terrorism. He stated that the crypto market is “highly speculative” and “not yet regulated,” and advised soldiers not to “get caught up in the FOMO – the fear of missing out.” SEC commissioner Caroline Crenshaw also joined the discussion and advised soldiers to invest as much as possible in a Thrift Savings Plan, a government-sponsored retirement plan for federal employees and service members.

Here is the Tweet: 

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