The SEC’s Mark Uyeda says the regulator’s approach to crypto has been “the wrong one,” and it needs to provide clear guidelines before launching enforcement actions.
The United States Securities and Exchange Commission’s approach to regulating crypto is a “disaster,” and the agency has “done nothing” to clarify rules, says SEC commissioner Mark Uyeda.
Uyeda claimed on an Oct. 10 Fox Business panel that SEC Chair Gary Gensler had been enforcing crypto policy without ever providing clear rules or guidance for crypto firms to follow.
“We have been sending this policy through enforcement, we’ve done nothing to provide guidance on it, and as a result, this has been achieved by the courts, and different courts have ruled different ways,” Uyeda said.
