Was it the FTX Gary Gensler’s fault? The unclear law created a “refuge for bad actors,” Hester Perth says

SEC less than one day It has been officially rejected Litigation against Coinbase, the new chief of the agency Cryptographic Task Force Over the past few years, it appears to have denounced policies developed by the agency’s former chairman, Gary Jensler, for the spread of fraud in the industry.

in statement SEC Commissioner Hester Perth, issued Friday, claimed it by targeting the crypto sector extensively. Enforcement measures And I declined to create Industry-specific rulesagents have actually increased the spread of fraud and fraud under former President Joe Biden.

“The decision by the previous committee to function in the enforcement department by engaging in a large regulatory initiative has hurt the American people, has negatively affected the industry, and has hampered the ability to use their expertise as they intend to use and use the competence of the committee’s skilled and dedicated professional staff.

The commissioner has continued to imply that it has been a crypto scandal that has grabbed many headlines over the past four years, particularly a $32 billion implosion. ftx– If not due to Gensler’s aggressive anti-cryptography policy, it’s not happening.

“The American people suffered because an environment in which the law is unclear is a shelter for law-abiding people who try to legally resolve social issues and meet their needs,” Pais added.

Over the past two weeks, Peirce and her colleagues have unleashed most of Gensler’s Crypto Caseload, dismissed the lawsuit and concluded the investigation. Robin Hood, UNSWAP Lab, opensea, Consensyand Coinbase.

After the SEC filed its lawsuit against Coinbase on Thursday, the agency suggested in a statement that it had effectively wiped out slates and chose to start anew with an assessment of how crypto companies best adhere to federal securities laws.

That reassessment appears poised to support the crypto industry, but it has already benefited its top exchange and secondary markets. I said Decryption Earlier this week, it is said that some token issuers are still likely to face scrutiny from regulators.

In fact, Perth reiterated today that the public should not expect the SEC to pull back completely, and that scammers should not expect to act with immunity.