SEC’s crypto approach a ‘disaster for the whole industry’
In a candid interview on Fox Business’s Mornings with Maria, SEC Commissioner Mark Uyeda sharply criticized the agency’s handling of crypto, acknowledging that its current strategy has been “a disaster for the whole industry.”
Uyeda’s remarks come amid mounting legal challenges, including a fresh lawsuit filed by Crypto.com against the U.S. Securities and Exchange Commission following the issuance of a Wells notice.
Crypto.com’s lawsuit alleges that the SEC has overstepped its jurisdiction by enforcing regulations on the cryptocurrency market without issuing clear regulatory guidance. The Wells notice — a formal communication from the SEC indicating that enforcement action is likely — accused Crypto.com of operating as…
