‘We’re not giving crypto a pass,’ says SEC’s enforcement chief
The Securities and Exchange Commission is going to continue to aggressively pursue enforcement actions against crypto companies, its lead enforcer told a legal conference in Washington on Sept. 9.
“We’re not giving crypto a pass,” Gurbir Grewal, the director of the SEC’s division of enforcement, said at a forum hosted by the Practising Law Institute, a legal education nonprofit.
“We will continue to bring actions regardless of what technology is used,” Grewal continued, saying that “Non-enforcement of the most fundamental rules underlying our regulatory structure – that would be a betrayal of trust.”
The crypto industry has criticized the SEC as stifling innovation, which Grewal dismissed. His remarks come on the heels of a speech from SEC Chair Gary Gensler that similarly rejected the notion that the securities regulator had been unclear in its guidance.
In July, Grewal appeared before Congress, saying much the same thing. Days later, the SEC launched its insider trading case against Coinbase employees, designating a roster of tokens as securities.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Kollen Post
