The former SEC advisory said the agency needed to clarify its crypto compliance rules.
TuongVy Le, head of the investment firm and former SEC advisor, said the agency needs to clarify its crypto compliance rules. TuongVy Le’s agency criticized the issue.
TuongVy Le Criticizes SEC Over Crypto
TuongVy Le, partner and head of regulatory and policy at investment firm Bain Capital, said the U.S. Securities and Exchange Commission (SEC) fell short of addressing how it would deal with the digital asset industry.
TuongVy Le criticized the SEC about crypto compliance rules. Le used the following statements in his criticism:
“When the SEC tells us something is not compliant, it is not the same as telling us what is compliant.”
Le, former chief counsel to the SEC’s Office of Legislative and Intergovernmental Affairs, said in an interview Tuesday:
“What the federal agency does is “almost entirely compelled to regulate through enforcement actions.”
“When the SEC tells us something is not compliant, that is not the same as telling us what is compliant,” Le said, referring to the $30 million deal the agency reached with Kraken, which would close the centralized exchange.
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