Gurbir Grewal’s first remarks on crypto in an interview provide greater clarity as to how cryptocurrency companies can expect to be treated under the SEC’s new Democratic leadership. The industry has complained that the agency has left it in the dark about how to comply with U.S. rules.
His comments, though, will disappoint some in the industry who had hoped the SEC would encourage companies flouting its rules to voluntarily come under its oversight by giving them a one-time free pass.
“Our message to them is not, ‘Register your product and we’ll just ignore the billions you have under management in this crypto lending product and your violations of the securities laws,’” said Grewal, who joined the SEC in July.
‘Enforcement 40’ for 2020
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