David Hirschhead of the Crypto division of the SEC, warns that numerous lawsuits for the companies from sector. From investigations for acts similar to those alleged against Binance and Coinbase are in progress.
The first results of the SEC against players in the crypto are mixed, as in the case of the proceedings brought against Ripple and its XRP token. However, the American agency has no intention of stalling. Quite the contrary, in fact.
David Hirschhead of the SEC’s Crypto Assets and Cyber Unit, is more than just aexplicit on this subject. Others complaints are in the offing, and in the future they won’t just target the big market exchanges.
No crypto company is immune
The executive at the stock market watchdog is keen to send a clear message: all industry playersare likely to be targeted. Moreover, Hirsch points out that regulatory breaches are not the monopoly of Binance and Coinbase alone, who were prosecuted last June.
“We will continue to be active with regard to intermediaries “he declared on September 19 at the Securities Enforcement Forum Central in Chicago. These intermediaries can be very diverse.
They can be brokers, dealers, exchanges, clearing agencies or any other person active in this field, which falls under our jurisdiction and which does not fulfill its obligations, either by registering or by not providing adequate or complete information”, details the SEC representative.
The SEC already has a number of companies in its sights, which it believes are guilty of the same offences as the first two exchanges in the USA.
We will continue to press these charges,” says David Hirsch.
DeFi label no protection against SEC
The DeFi ecosystem won’t be spared either. In September, the other regulator, the CFTChas issued sanctions against three decentralized finance protocols.
We’re going to continue investigating, we’re going to be active in this area. And the addition of the DeFi label will not deter us from continuing our work,” promises the head of the Crypto unit.
Ian McGinley, Director of Enforcement for the CFTC, conveyed the same message not long ago, namely the agency’s willingness to pursue violations found, including in DeFi.
The DeFi universe may be new, complex and evolving, but the Division of Enforcement will continue to evolve with it and aggressively pursue those who operate unregistered platforms that allow U.S. persons to trade derivatives of digital assets,” the CFTC promised.
To keep up with the latest Crypto and Web3 news, visit Corners.en on TwitterLinkedin, Google News, Facebook and Telegram