SEC’s Gensler slams digital-asset industry for ‘ignoring the law’ as crypto crackdown continues | Morningstar

Crypto platforms ‘are acting as if they have a choice to comply with our laws,’ Gensler said.

U.S. financial regulators appear set to tighten the screws further on the digital asset industry, with Securities and Exchange Commission Chairman Gary Gensler taking the lead in an ongoing crackdown on illegal crypto activities.

The SEC voted Friday to issue supplemental guidelines on how a proposed update of securities-exchange regulations would impact crypto markets broadly and decentralized finance (DeFi) applications in particular.

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“These platforms are acting as if they have a choice to comply with our laws,” Gensler stated. “They don’t.”

“Calling yourself a crypto platform is not an excuse to ignore the securities laws,” he added. “Calling yourself a DeFi platform is not an excuse to defy the securities laws.”

Source: SEC’s Gensler slams digital-asset industry for ‘ignoring the law’ as crypto crackdown continues | Morningstar