PANews October 31 news, according to The Block, the Blockchain Association released data showing that since Gary Gensler took office as the chairman of the U.S. Securities and Exchange Commission (SEC), the U.S. cryptocurrency industry has spent over $400 million in response to the agency's enforcement actions. This figure is based on self-reports from members of the Blockchain Association and reflects the enormous compliance costs and potential harm to industry innovation and employment brought by SEC enforcement. Members of the association include companies such as Ripple, Coinbase, Crypto.com, Grayscale, and Kraken.
In addition, a survey conducted by the association in collaboration with HarrisX shows that about two-thirds of surveyed voters believe the SEC should wait for Congress to provide clearer regulatory guidance. There is also a divide among voters regarding party support for cryptocurrency innovation, with 34% believing the Republican Party is more supportive of cryptocurrency innovation, while 32% believe the Democratic Party is more supportive.