Call for Stricter Crypto Regulation by SEC Director Over Rising Investor Harm
Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, spoke at the William & Mary Business Law Review’s Symposium, advocating for robust crypto regulation.
He emphasized the application of federal securities laws to the dynamic crypto market, citing the enduring relevance of the SEC v. Howey definition of securities. Grewal highlighted the prevalence of fraudulent crypto activities causing substantial investor losses, prompting urgent regulatory action. He referenced recent enforcement actions against issuers involved in unregistered and deceptive offerings.
Grewal stressed the importance of balancing innovation with compliance, pledging the SEC’s support for crypto entrepreneurs in navigating regulatory requirements. Finally, he affirmed the SEC’s commitment to enforcing laws to safeguard investors, uphold market integrity, and foster compliance within the financial sector.
Clever Robot News Desk 15th July 2024
