The cryptocurrency industry is abuzz with reports of potential turmoil within the US Securities and Exchange Commission’s (SEC) crypto assets and cyber unit. Senior lawyers are reportedly considering departures, raising questions about leadership and the agency’s approach to regulating the rapidly evolving digital asset landscape.
Exodus Or Evolution?
Fox Business journalist Charles Gasparino first reported the potential exodus, citing sources from major law firms who observed an uptick in resumes from within the SEC’s crypto unit. This follows allegations of Chairman Gary Gensler attempting to “gag” crypto firms, casting a shadow over his leadership style and decisions.
SCOOP: @SECGov bracing for major exodus among senior enforcement lawyers in its crypto assets and cyber unit, according to officials at major law firms who have seen several of the resumes. @FoxBusiness is withholding names to protect privacy; the moves suggest that the bleed of…
— Charles Gasparino (@CGasparino) February 9, 2024
The SEC has implemented new regulations aimed at expanding its reach to crypto transactions deemed securities, including those in the decentralized finance (DeFi) sector. This move has drawn sharp criticism from the industry, which views it as an overreach of traditional securities laws and a hindrance to innovation. DeFi…
