The SEC threatened centralized exchanges and DeFi projects

Ripple_SEC-min
Ripple_SEC-min

Besides Binance and Coinbase, there are others CEX and DeFi protocols, whose activities SEC examines for violations of the law. This was stated by the head of the regulator’s enforcement department, David Hirsch, writes CoinDesk.

According to the official, regulatory violations in the industry “extend far beyond the boundaries of the two organizations.”

“We will continue to press charges. These may be brokers, dealers, exchanges, clearing agencies or any other organizations that are active in this area. If they are within our jurisdiction and fail to fulfill their obligations either due to registration or failure to provide adequate or complete information.” – he warned.

Hirsch explained that the claims could also affect DeFi projects that would not be helped by the “label [децентрализации]”

The head of the enforcement department complained about the regulator’s heavy workload, which prevents the initiation of new processes. He drew attention to limited funding.

“There are more tokens […]than the SEC or any other agency has the resources to monitor. Likewise, there are a number of centralized platforms, some of which operate as unregistered exchanges.” – he explained.

Let us recall that the media accused SEC head Gary Gensler of turning the agency into a “banana republic.”

The community suggested that BlackRock asked the regulator to arrange FUD in cryptocurrencies in order to go to the minimum and launch an ETF.

In September, the head of the agency confirmed his tough stance on digital assets, noting their possible harm to the global financial system.

Earlier, US House of Representatives member Warren Davidson called for Gensler to be removed from his post as head of the agency due to the unsuccessful proceedings against Grayscale. It was preceded by the partial defeat of the regulator in the process against Ripple.

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