Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), has taken his crypto-critical message online again. He released a new video on Thursday warning people about digital asset businesses that violate securities laws.

The industry is grappling with enforcement actions and legal challenges involving SEC, a major theme at the Consensus 2020 event in Austin this week. The agency chief reiterated that crypto platforms operate illegally.

Gensler, in his video series “Office Hours”, said that “the lack of compliance by crypto platforms means you don’t get basic investor protections.” These are things like rules and surveillance to stop fraud and manipulation. Or the appropriate segregation and custody of customer assets so that they are not misused, abused, or simply become property of the platform.

Gensler said that he would hold the securities industry accountable to the existing laws. The courts and Congress could be the only obstacles to his mission. Two hearings are being held by Congressional committees to examine the crypto market structure.

James Rubin is the editor.