SEC Chairman Gary Gensler emphasized during a CNBC interview that many cryptocurrencies are considered securities under the law, highlighting a significant issue where investors are not receiving the required or necessary disclosures following multiple Wells Notices. In a series of statements, Gensler pointed out that the crypto sector represents a disproportionately large part of the scams, frauds, and problems within the overall financial markets. He questioned the lack of financial reporting for these crypto tokens and criticized the attention the sector receives relative to its size in the capital markets.