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SEC Chairman Gary Gensler Accuses Crypto Firms of Evading Rules and Denies Crushing Industry

Gary Gensler, Chairman of the U.S. Securities and Exchange Commission, has accused crypto firms of intentionally breaking rules and taking the risk of enforcement as a cost of doing business in the United States. He defended the SEC's recent enforcement actions and reiterated his belief that the majority of crypto tokens qualify as securities.

Gensler also outlined the path for crypto firms to register with the regulator and highlighted potential exemptions for those who meet certain criteria. During his speech at the Piper Sandler Global Exchange and Fintech Conference, he pushed back against the industry's allegations of him using the agency to crush them and stated that legislation from Congress is not needed for regulating the crypto space.

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