The Securities and Exchange Commission has had a busy June, with lawsuits filed against crypto giants Binance and Coinbase that have rocked the industry and expanded the agency's purview of digital asset oversight.
On Friday, Gurbir Grewal, the SEC's director of enforcement, pushed back against criticism from industry participants that his agency is engaging in "regulation by enforcement," arguing that crypto represents a "perfect storm of investor risk" that needs to be addressed through existing securities law.
