SEC does not intend to change the rules for regulating the crypto market to please critics

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SEC Enforcement Director Gurbir Grewal said that criticisms of the digital asset market regulation policy will not affect the agency’s principled position.

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According to Gurbir Grewal, the financial regulator will continue its comprehensive investigation and enforcement of crypto companies, despite criticism from the crypto community about “choosing winners and losers” or “stifling innovation.”

Grewal stated that the US Securities and Exchange Commission (SEC) has a unified regulatory policy, regardless of whether it concerns products of traditional financial markets or the crypto asset market. He considers unfair accusations against the regulator about the “biased manner of action in relation to cryptocurrencies.”

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The SEC’s director of enforcement also noted that the agency is responsible to “national minorities and low-income investors” involved in cryptocurrency projects, who may feel that the financial system and its regulators “let them down or simply abandoned them.”

“Failure to follow the most fundamental rules that underlie our regulatory structure would be a betrayal of trust. If necessary, we will continue our enforcement actions in relation to any financial instrument, regardless of what technology is involved. Failure to do so will mean relinquishing our responsibilities,” Grewal said.

Earlier, SEC Chairman Gary Gensler published an article in the Wall Street Journal, in which he shared his opinion on the position of the regulator in relation to the crypto asset market. Gensler believes that technological differences cannot be the reason why regulators treat the digital asset market differently than the rest of the capital market.

Source: Bits

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