During a recent “SEC Speaks” event, Gurbir Grewal, the Director of the Securities and Exchange Commission’s Division of Enforcement, expressed
Grewal’s remarks, spanning approximately 15 minutes, shed light on the challenges and criticisms faced by the regulatory body in enforcing crypto regulations. Grewal emphasized the crypto sector’s attempts to sidestep SEC jurisdiction, highlighting a decade-long struggle with noncompliance issues. He refuted claims of arbitrary regulatory actions by the SEC, asserting that the agency operates within its established legal boundaries.
The SEC official also delved into the industry’s impact on marginalized communities, critiquing the so-called “predatory inclusion” strategies aimed at these groups.
Despite narratives promoting financial inclusion through cryptocy, Grewal pointed to evidence suggesting disproportionate harm to Black and Brown investors during market downturns.
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