According to BlockBeats, on July 15, Gurbir S. Grewal, the head of the U.S. Securities and Exchange Commission (SEC) Enforcement Division, discussed cryptocurrency regulation at a recent symposium hosted by the William & Mary Law Review at the College of William & Mary School of Business. Grewal emphasized the necessity of enforcing federal securities laws in the evolving cryptocurrency market. He highlighted that the principles established in the 1946 Supreme Court ruling in SEC v. Howey, which defined securities, still apply to new investment schemes, including crypto assets. Grewal pointed out the significant investor losses caused by fraudulent crypto activities and stressed the urgent need to address these harms. He mentioned numerous charges brought against issuers involved in unregistered and deceptive offerings. Grewal underscored that innovation and compliance with securities laws are not mutually exclusive. The SEC is committed to working with cryptocurrency entrepreneurs to ensure adherence to regulations while fostering technological advancement. He concluded by emphasizing the need for robust enforcement to maintain public trust, protect investors, and enhance confidence in financial markets.
