🗳️ $426,000,000 - That's How Much The SEC Under Gensler Cost Crypto Firms
The Blockchain Association (BA) reports that the SEC's aggressive approach under Gary Gensler has cost crypto companies at least $426 million in legal defense since 2021. The SEC's 104 enforcement cases from 2021 to 2023, targeting industry heavyweights like Binance, Ripple, and Coinbase, spotlight a "regulation by enforcement" agenda that many see as stifling innovation.
Beyond the litigation costs, the BA highlighted the deeper consequences: lost jobs, hindered innovation, and stunted U.S. tech investment. With the 2024 U.S. election fast approaching, the BA urges crypto voters—18% of the electorate—to back leaders who champion digital asset innovation.
Both sides of the political spectrum could shift the SEC's future. Donald Trump pledges to dismiss Gensler if elected, while Kamala Harris reportedly considers replacements, signaling potential policy changes. The outcome could redefine crypto’s regulatory landscape as Election Day (Nov. 5) looms.
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