The SECGov has been enforcing existing rules and regulations and not practicing “regulation by enforcement,” said the head of the organization’s Enforcement Division Friday. nikhileshde reports
"Regulation by enforcement" is"a catchy but tired refrain that's used effectively by crypto market participants and lobbyists," said the head of the U.S. Securities and Exchange Commission's Enforcement Division Friday.
The SEC has been enforcing existing rules and regulations, said Gurbir Grewal to an audience of academics and lawyers during a panel co-hosted by the Lowenstein Sandler law firm and Rutgers Law School, in some of his first public remarks since theThe moderators asked about the SEC's recent actions and the concept of regulation by enforcement.
"We're not concerned with the labels. We're concerned with the offerings, the labels are not important to us," Grewal said."The technology is important. What's underneath the hood, because when we look underneath the hood, when we kick the tires, we've seen plenty ... DeFi [decentralized finance] offers that are neither decentralized nor finance but rather just straight [fraud].
"We will extend our jurisdiction as far as the law allows," Grewal said."We have tremendous cooperation with a lot of regulators. We meet with them frequently, we have MOUs [memoranda of understanding] with a lot of regulators that facilitate our ability to collect evidence abroad. And I think the more we do that, the more cooperation that exists among regulators, the less space that there is between us and the [U.K.
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