According to the news of Reuters, the US Securities and Exchange Commission (SEC) will not grant amnesty to crypto money companies.
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The SEC’s statement means that companies that violate the regulator’s rules are not eligible for any amnesty.
Although the crypto industry has been around for a long time, it still lacks regulatory clarity. This situation causes the regulator to receive more and more criticism every day.
The SEC has so far been using the “regulation by practice” method. For this reason, some crypto companies such as Ripple have been victims.
SEC director, Gurbir S. Grewal, said:
“We cannot ignore your billion-dollar crypto loan product and violation of securities laws for registering your product”
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