SEC chairperson: Whether using algorithms or artificial intelligence models to defraud the public is a fraud

SEC Chairperson Gary Gensler said that whether it is using algorithms or artificial intelligence models to defraud the public is a fraud, which is not just a problem we face, other agencies such as the Federal Trade Commission will also face a similar situation. The SEC is focusing on how to reduce costs in the system every day. It needs to reduce costs through competition, transparency, etc., and ensure market accessibility. At the same time, it should also pay attention to the resilience of the market, such as through central clearing measures to enhance the robustness of the backend and infrastructure.