The post Ex-SEC Chair Criticizes Gensler’s Aggressive Crypto Lawsuits appeared first on Coinpedia Fintech News
In June, the U.S. Securities and Exchange Commission (SEC) filed lawsuits against major cryptocurrency exchanges Coinbase and Binance, marking an eventful month for the industry.
Gary Gensler, the current SEC Chair, has faced criticism for his regulatory actions. Former SEC Chairman Jay Clayton expressed his disapproval, citing Gensler’s statement that the SEC should be losing cases if they are not suing enough businesses. Clayton believes this approach signifies a shift in the perception of the government’s role and disagrees with it, stating that the SEC should only pursue cases it believes can withstand judicial scrutiny.
A must watch. Former SEC Chairman Jay Clayton describes the new and deeply un-American ethos of the @SECGov under @GaryGensler — if we’re not losing cases, we aren’t suing enough businesses. This is a total abuse of power. pic.twitter.com/G0HxL4s8
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