Remarks at SEC Speaks 2024 — Gurbir Grewal

At the same time, we’ve been accused of picking winners and losers, stifling innovation, and driving crypto businesses to more favorable, foreign jurisdictions, wherever they may be.

A decade’s worth of verbal gymnastics that are just a backhanded way of saying, “we want a different set of rules than those that apply to everyone else.”

A decade’s worth of arguments that have served as nothing more than a distraction from the very real issues and risks that the crypto markets present for the investing public.

And most importantly, a decade’s worth of arguments that have been serially rejected in one way or another by court after court. As we have consistently maintained, and as court after court has confirmed, the federal securities laws apply equally to everyone. You don’t get your own rules.

Indeed, as one federal court recently stated, “the ‘crypto’ nomenclature may be of recent vintage, but the challenged transactions fall comfortably within the framework that courts have used to identify securities for nearly eighty years.” The court went on to observe that “[u]sing enforcement actions to address crypto-assets is simply the latest chapter in a long history of giving meaning to the securities laws through iterative application to new situations.”

Source: Remarks at SEC Speaks 2024 — Gurbir Grewal