SEC Chairman Gary Gensler listed three ways to identify a fraudulent cryptocurrency project

Gensler listed three signs of a potential scam:

-The project doesn't have clear documentation of how it operates and plans to achieve its goals; -The company does not demonstrate regulatory compliance; -The founders of the project can't explain in simple terms what the project is all about.

The head of the SEC cautioned listeners against offering high returns and calling for rushed investments with reference to FOMO. He reminded them that he considers most digital assets to be unregistered securities.