The US Securities and Exchange Commission (SEC) reportedly reduces a special unit of more than 50 lawyers and staff who have the task of submitting crypto enforcement actions.
With reference to five people who are familiar with the case, the New York Times reports that a leading lawyer was brought in the unit by the enforcement division and some were assigned to other departments within the agency.
The crypto enforcement unit was founded during the first Trump administration, but it almost doubled its size in 2022 under previous SEC chairman Gary Gender, who performs a hard -handed performance in the American crypto industry.
A recent count shows that the unit has set more than 100 crypto-related actions during the BIDEN administration.
However, it is not yet clear whether the shake-up will influence enforcement actions, including a case with Coinbase. The crypto -grant is responsible for breaking the federal securities laws by operating a non -registered platform.
The report says that some people think that the reorganization is unfair relegation. Corey Frayer, who served as a senior adviser to Gensler about crypto issues, also criticizes the friendly attitude of the SEC on digital assets.
“What the new SEC leadership represents for crypto is the removal of speed limits and guardrails that have made our capital markets the strongest in the world.”
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