Is SEC chairman Gary Gensler getting tough on crypto?

SEC Chair Gary Gensler and Commissioner Hester Peirce. Photos: SEC U.S. Securities and Exchange Chairman Gary Gensler has made it clear that he’s getting tough on crypto. And today the American regulator revealed he’s not leaving out the industry’s most complex space: DeFi.

What did SEC commissioner Hester Peirce say about Kraken?

SEC commissioner Hester Peirce issued a public dissent to her agency’s enforcement action against crypto exchange Kraken. Peirce said that the current regulatory environment made it impossible for crypto-related offerings to even gain approval.

What does Peirce think of the SEC's approach to crypto?

Peirce elaborated on her criticisms of the SEC’s approach to crypto in her interview with Protocol. She shared what she thinks of Gensler’s leadership and why she believes there’s still an opportunity to “break this unhealthy dynamic” between the SEC and the crypto industry. This interview was edited for brevity and clarity.

Why did Hester Peirce rebuke crypto enforcement?

Hester Peirce of the Securities and Exchange Commission publicly rebuked her agency’s crypto enforcement, calling it “paternalistic and lazy” and asking if a “hostile” regulator is the best solution for the industry.

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