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SEC Commissioner Hester Peirce criticizes the SEC's regulatory approach, denouncing SAB 121 and highlighting the lack of engagement with the crypto community. Peirce emphasizes the need for transparency, collaboration, and a new approach to foster innovation while protecting consumers. Peirce warns that the SEC's current strategy risks damaging its authority and credibility, particularly in cases involving financially secure defendants like Ripple. Peirce advises the industry to continue engaging with the SEC despite the challenges posed by the agency's enforcement-first approach.
.@maydeennnn reports: “In the decade since we brought our first crypto enforcement actions, our approach has been consistent, principled, and tethered to the federal securities laws and legal precedent,” said Gurbir Grewal. https://t.co/GBVmPEaB9Z
US Courts Have Serially Rejected Crypto Industry’s ‘Decade’s Worth of Arguments’ – SEC Director #crypto #cryptocurrency #sec https://t.co/LjKA9nBjA0
Dir. Grewal says the crypto enforcement unit acts with integrity, but ignores the DebtBox sanctions for “gross abuse of power,” the Ripple Judge’s admonishment for lack of “faithful allegiance to the law,” and the “arbitrary and capricious” finding in the Grayscale case. https://t.co/rZnaumdBOd
