By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Markets > Stocks > SEC enforcement chief rejects criticism of crypto crackdown
Stocks

SEC enforcement chief rejects criticism of crypto crackdown

News Room
Last updated: 2023/06/17 at 11:43 PM
By News Room
Share
3 Min Read
SHARE

© Reuters. FILE PHOTO: A smartphone with displayed Binance and Coinbase logos and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

By Chris Prentice

NEW YORK (Reuters) – A top U.S. Securities and Exchange Commission (SEC) official on Friday rejected criticism of the regulator’s cryptocurrency crackdown and slammed the sector for violating securities laws.

The regulator’s heightened scrutiny of crypto firms comes in response to the industry’s failure to comply with the agency’s regulations, SEC enforcement director Gurbir Grewal said at a Rutgers University and Lowenstein Sandler LLP event in New York.

The agency’s aggressive policing has sparked a wave of criticism from digital assets firms and advocates on Capitol Hill for what they describe as regulatory overreach.

“We have worked thoughtfully and incrementally in this space,” Grewal said on Friday. “Typically you’d also see compliance but we’re not seeing that in this space, so we had to change strategies.”

The SEC began targeting initial coin sales as unregistered securities offerings, but has increasingly focused on crypto firms acting as unregistered exchanges and broker-dealers.

The crypto sector has said that existing U.S. regulations are inadequate and called for new rules. On Friday, Grewal questioned whether such new rules would work to tamp down misconduct.

“Even if you came up with a bespoke rule set, you have an entire industry where the ethos is built around noncompliance,” he said.

The SEC last week sued Binance and Coinbase (NASDAQ:), two of the world’s largest crypto exchanges, for allegedly breaking its rules. The SEC’s actions were the latest in a crypto crackdown that has gathered pace under Democratic leadership.

Binance and Coinbase have both denied the allegations and have accused the SEC of walking away from the firms’ efforts to cooperate and come to a resolution. Coinbase has said the agency hardened its stance and became less willing to work with crypto firms in the wake of the FTX scandal in late 2022.

Read the full article here

News Room June 17, 2023 June 17, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Canada’s Prime Minister Carney holds meeting with President Trump

Watch full video on YouTube

Why Companies Like JP Morgan And Visa Are Creating Crypto Tokens

Watch full video on YouTube

US multinationals on track for minimum tax reprieve after G7 deal

The world’s leading economies have agreed a deal to spare the US’s…

Why is the right so fascinated with fantasy literature?

Stay informed with free updatesSimply sign up to the Politics myFT Digest…

Iran holds funeral procession for top commanders killed in Israeli strikes

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

- Advertisement -
Ad imageAd image

You Might Also Like

Stocks

Playa Hotels & Resorts (NASDAQ:PLYA) Delivers Strong Q4 Numbers By Stock Story

By News Room
Stocks

ON24 (NYSE:ONTF) Posts Better-Than-Expected Sales In Q4 By Stock Story

By News Room
Stocks

Evolent Health shares leap on Q4 earnings beat and upbeat guidance By Investing.com

By News Room
Stocks

Chuy’s (NASDAQ:CHUY) Reports Q4 In Line With Expectations But Stock Drops

By News Room
Stocks

Red River Bancshares raises dividend to $0.09 per share

By News Room
Stocks

Ecolab appoints Microsoft executive to board

By News Room
Stocks

Semilux secures $50 million equity deal with White Lion Capital

By News Room
Stocks

US government debt trajectory to push long-term yields higher, says PIMCO

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?