Cryptocurrency industry spending on enforcement response has exceeded $400 million since Gary Gensler became SEC chairman

According to Foresight News, data from the Blockchain Association shows 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 to respond to the agency's enforcement actions. During this period, the SEC has filed lawsuits against several large cryptocurrency companies, including Coinbase and Kraken. The Blockchain Association stated that the $400 million is just "a small part of the industry," as this is based on a sampling survey of its association members.