The SEC’s executive director evaluated the agency’s recent outlook and actions.
SEC executive director Gurbir Grewal spoke at a panel about the SEC’s recent actions. After the two largest cryptocurrency exchanges were sued in other respects, eyes turned to the SEC.
SEC Executive Director Gurbir Grewal Evaluates SEC’s Recent Position in a Panel
After the SEC filed a lawsuit against Binance US and Coinbase last week, eyes turned to the agency’s stance on crypto. However, statements by the SEC and crypto exchanges came one after another. Both cryptocurrency exchanges and the SEC have entered a disclosure race to inform the community.
However, speaking at a panel he attended today, SEC executive director Gurbir Grewal made statements on the subject.
Gurbir Grewal made the following statements in his speech at the panel:
“We are not concerned with definitions. We are interested in offers, definitions are not important to us. What matters is technology. What’s under the hood, because when we looked under the hood, when we kicked the tires, we saw a lot of things. DeFi is neither decentralized nor financial, but rather outright fake.”
He continued his words as follows:
“I think the crypto markets are on the decline, the increase in risk forced us to focus our efforts here. Maybe it was perceived as an upswing, but I think we just do our job the way we do.”
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