The Enforcement Division of the U.S. Securities and Exchange Commission (SEC) continues efforts to bring the crypto industry under securities overreach. Gurbir Grewal, the director of the enforcement division, has reiterated that the crypto industry should not expect to get a pass from the SEC.
In remarks he made while speaking at SEC Speaks 2022, a conference organized by the Practising Law Institute (PLI), Grewal stated that the SEC is aware of criticisms of its approach to the crypto industry. These criticisms, which have majorly targeted the enforcement division include that the SEC is "picking winners and losers" and "stifling innovation," he noted.
He further argued that these criticisms do not come because the SEC has unfairly targeted crypto to the exclusion of other products or markets. Instead, crypto market participants are angry because the SEC is not giving the industry "a pass from the application of well-established regulations and precedents."
Grewal maintained that...
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