The SEC to Tighten Control Over Crypto Exchanges and DeFi
The Securities and Exchange Commission (SEC) re-affirmed in early June its strict regulatory stance on cryptocurrency companies, with Chairman Gary Gensler stating in an interview with CNBC that digital assets should be subject to securities offering laws.
This position was reiterated by David Hirsch, head of the SEC’s cybersecurity division, who emphasized the regulator’s plans to enforce regulations on DeFi protocols and cryptocurrency exchanges in the near future.
Hirsch also raised the possibility of the SEC initiating new lawsuits against certain crypto companies and individuals.
Notable cases include the SEC’s lawsuits against Binance and Coinbase, which were filed in early summer of 2023, accusing them of listing tokens that are considered unregistered securities.
Additionally, the ongoing lawsuit against Ripple has seen some progress in favor of the crypto company.
