{"id":491602,"date":"2022-09-09T20:00:13","date_gmt":"2022-09-09T17:00:13","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/were-not-giving-crypto-a-pass-on-enforcement-action-says-secs-gurbir-grewal\/"},"modified":"2022-09-09T20:00:13","modified_gmt":"2022-09-09T17:00:13","slug":"were-not-giving-crypto-a-pass-on-enforcement-action-says-secs-gurbir-grewal","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/were-not-giving-crypto-a-pass-on-enforcement-action-says-secs-gurbir-grewal\/","title":{"rendered":"# &#8216;We\u2019re not giving crypto a pass&#8217; on enforcement action, says SEC&#8217;s Gurbir Grewal"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a405e908205e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a405e908205e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/were-not-giving-crypto-a-pass-on-enforcement-action-says-secs-gurbir-grewal\/#%E2%80%9D_%E2%80%98Were_not_giving_crypto_a_pass_on_enforcement_action_says_SECs_Gurbir_Grewal_%E2%80%9C\" >&#8221; &#8216;We\u2019re not giving crypto a pass&#8217; on enforcement action, says SEC&#8217;s Gurbir Grewal &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_%E2%80%98Were_not_giving_crypto_a_pass_on_enforcement_action_says_SECs_Gurbir_Grewal_%E2%80%9C\"><\/span>&#8221; &#8216;We\u2019re not giving crypto a pass&#8217; on enforcement action, says SEC&#8217;s Gurbir Grewal &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvZTUzNDk2MDktNzZiZS00NDdiLThjNTctNjcyMWNhMmUxOWIwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-71846793>Gurbir Grewal, the enforcement director for the United States Securities and Exchange Commission, said the financial regulator will continue to investigate and bring enforcement actions against crypto firms, despite the narrative of \u201cpicking winners and losers\u201d and \u201cstifling innovation.\u201d<\/p>\n<p>In written remarks for a Friday program hosted by the Practising Law Institute, Grewal <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/news\/speech\/grewal-sec-speaks-090922\">pushed<\/a> back against criticism that the SEC \u201csomehow unfairly targeted crypto\u201d in its enforcement actions when compared with those against financial products or traditional markets. He also hinted that the SEC had a responsibility to many \u201cnon-White and lower-income investors\u201d drawn to crypto projects, who may feel as though the financial system and its regulators \u201cfailed, or simply ignored, them.&#8221;<\/p>\n<p>\u201cIt often seems critics are upset because we\u2019re not giving crypto a pass from the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lication of well-established regulations and precedents,\u201d said Grewal. \u201cWere we not to investigate and bring appropriate cases just as we always have simply to duck criticism or difficult questions, we\u2019d be acting with both fear and favor.\u201d<\/p>\n<p>The SEC enforcement director added:<\/p>\n<blockquote><p>\u201cNon-enforcement of the most fundamental rules underlying our regulatory structure would be a betrayal of trust and not an option for us [&#8230;] We will continue to bring actions regardless of what label is used or <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> is involved (or not). Failure to do so would constitute an abdication of our responsibilities.\u201d<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Back at <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/SECSpeaks?src=hash&amp;ref_src=twsrc%5Etfw\">#SECSpeaks<\/a> this morning. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SEC_Enforcement?ref_src=twsrc%5Etfw\">@SEC_Enforcement<\/a> Director Grewal says the Division will not give <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#crypto<\/a> a pass to duck public criticism. They will act, when appropriate, regardless of what label or technology is used. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PractLawInst?ref_src=twsrc%5Etfw\">@PractLawInst<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SEC_Enforcement?ref_src=twsrc%5Etfw\">@SEC_Enforcement<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/DigitalAssets?src=hash&amp;ref_src=twsrc%5Etfw\">#DigitalAssets<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/CBIVl0qj8F\">pic.twitter.com\/CBIVl0qj8F<\/a><\/p>\n<p>\u2014 Kurt Wolfe (@Enforce_Update) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Enforce_Update\/status\/1568219315849105411?ref_src=twsrc%5Etfw\">September 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nOfficials appointed Grewal as the SEC\u2019s enforcement chief in July. Representative Brad Sherman later criticized the regulatory body, saying before the House Financial Services Committee that Grewal needed to show \u201cfortitude and courage\u201d by going after major crypto exchanges in his role as enforcement director and not \u201csmall fish.&#8221; The SEC subsequently filed a complaint against a former Coinbase employee, labeling nine tokens as \u201ccrypto asset securities\u201d in a seeming effort to regulate digital assets through enforcement actions.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Cleaning up crypto: How much enforcement is too much?<\/em><\/strong><\/p>\n<p>SEC chair Gary Gensler spoke at the same Practising Law Institute event on Thursday, suggesting that he welcomed legislation aimed at expanding the authority of the Commodity Futures Trading Commission, provided it didn\u2019t \u201cinadvertently undermine securities laws.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/we-re-not-giving-crypto-a-pass-on-enforcement-action-says-sec-s-gurbir-grewal\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; &#8216;We\u2019re not giving crypto a pass&#8217; on enforcement action, says SEC&#8217;s Gurbir Grewal &#8220; Gurbir Grewal, the enforcement director for the United States Securities and Exchange Commission, said the financial regulator will continue to investigate and bring enforcement actions against crypto firms, despite the narrative of \u201cpicking winners and losers\u201d and \u201cstifling innovation.\u201d In&#8230;<\/p>\n","protected":false},"author":1,"featured_media":491603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvZTUzNDk2MDktNzZiZS00NDdiLThjNTctNjcyMWNhMmUxOWIwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,74898,55229,70934,67874],"class_list":["post-491602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-sec","tag-law","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/491602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=491602"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/491602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/491603"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=491602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=491602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=491602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}