The single democratic commissioner of the US Securities and Exchange Commission said the agency “played a Jenga regulation game” along with its approach to the crypto industry and market regulation under the Trump administration.
On May 19 Reminders In the event of the SEC speaks, Commissioner Caroline Crenshaw warned her as a dangerous breakdown of “discrete but coherent policies” in crypto and the wider market.
He compared the stability of the market to a “Jenga Tower” whose agency’s policies have been “carefully developed in recent years,” which can be overthrown if certain rules have been removed.
In addition to a sad loss of staff, Crenshaw said the SEC used staff guide to effective
“Our statements on crypto -related issues are equivalent to a wink and nod intended to convey that we are not planning to strictly apply our laws to specific, specific situations.”
He added that the regulator left implementation actions, especially in the crypto markets, creating what he called “regulation by non-implementation.”
“I am deeply disturbed by the SWATH’s SWATH’s commission of our implementation program,” he said.
Crenshaw, the last remaining Commissioner of the Democrat of the SEC, said the agency’s “about the face” had a problem with a host of factors, such as correcting its reputation in court, which drops its credentials, and doubts the state of “long and primary law in the case.”
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Crenshaw, who also has Opposition to the SEC regimen with Ripple, told his latest comments that 2022 Falling FTX is an example of what may look like a “large -scale crypto crisis”.
“Those dangers are not lost, but calls for serious regulatory evaluation are quieter these days,” he said.
“Failure to appreciate and address the dangers and complexity holds us to repeat hard lessons with high stakes as crypto becomes increasingly wrapped in traditional finances.”
In comparison, comments from Republican Commissioners of the SEC accepted the embrace of the crypto sector agency.
Crypto is “especially in Sec Limbo”
SEC Chair Paul Atkins said in the event of SEC speaks That “Crypto markets have been united with the SEC Limbo for many years,” added that the agency should not be in the business of avoiding changing crypto companies.
Commissioner Hester Peirce, that head The Crypto Task Force of the SEC, Says In statements that the agency’s approach under the Biden Administration is “evaded sound regulatory practice and should be corrected.”
He also admitted that crypto did not undergo Purview of security laws because “most of the currently existing crypto assets in the market” are not security.
“Although a wide swath of crypto assets trading in the second market today was initially offered and sold subject to an investment contract, it was clear that they were no longer purchased and sold in security transactions. Many of these crypto possessions work.”
Commissioner Mark Uyeda shouted the feelings of his peers, Says That the SEC should “must make efforts to provide assurance that regulation by implementation will not be a tool used for future policy.”
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