According to BlockBeats, on July 15, Gurbir S. Grewal, head of the U.S. SEC's enforcement division, discussed cryptocurrency regulation at a seminar, emphasizing the need to enforce federal securities laws. Grewal pointed out that the definition of securities in the 1946 SEC v. Howey case applies to crypto assets, and emphasized that fraudulent crypto activities have caused significant investor losses and that these hazards need to be urgently addressed.
He stressed that innovation and compliance with securities laws are not in conflict, and the SEC is committed to working with cryptocurrency entrepreneurs to ensure compliance and promote technological progress. Finally, he emphasized the need for strong enforcement to maintain public trust, protect investors, and enhance confidence in financial markets by holding violators accountable and fostering a culture of compliance.