SEC enforcement official warns more charges are on the horizon, including for DeFi protocols
The U.S. Securities and Exchange Commission (SEC) intends to bring cases against additional crypto firms, as first observed by Coindesk on Sept. 19....
- The head of crypto enforcement at the SEC, David Hirsch, announced that more companies and projects are under investigation and more charges can be expected.
- The SEC intends to bring charges against intermediaries, including brokers, dealers, exchanges, and clearing agencies, who are not meeting their obligations.
- Hirsch acknowledged the limitations of the SEC's enforcement capacities due to the large number of tokens and exchanges in the crypto industry.
- The SEC will focus on decentralized finance (DeFi) projects and adding the label of DeFi will not exempt them from regulatory action.
- Previous actions by the SEC and other agencies have shown that DeFi projects are not outside the scope of their jurisdiction.
The article highlights the SEC's continued efforts to regulate the crypto industry and its focus on investigating companies and projects. While the SEC acknowledges the challenges posed by the vast number of tokens and exchanges, it remains committed to enforcing regulations. The mention of targeting DeFi projects suggests a proactive approach to regulating emerging areas of the crypto space.