Brian Quintenz said that the SEC lawsuits against the largest cryptocurrency exchanges, as well as the intention to freeze some of Binance’s assets, demonstrate an irresponsible transition to coercive regulatory methods.
The top manager believes that in order to fulfill its oversight mission, the SEC should have worked responsibly with market participants to update regulatory rules in a timely manner and clarify application practices. Instead, the Commission’s actions are causing tangible damage to the crypto industry in the form of entrepreneurs, investors, and consumers, while threatening to stifle innovation and force industry companies out of the US.
On Wednesday, June 7, the chairman of the US Securities and Exchange Commission, Gary Gensler, officially announced the position of the department: the US does not need any other crypto assets, since the country has its own state central bank digital currency.
Source: Bits
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