Democratic SEC Commissioner Caroline Crenshaw criticizes the agency's new regulatory approach towards cryptocurrencies, calling it a dangerous game of 'regulatory Jenga.'
Crenshaw warns that the SEC is undermining its decades of work by ignoring potential market risks and failing to enforce laws, leading to a decline in institutional integrity.
She criticizes the SEC's use of guidance on memecoins and crypto mining to move away from rules, expressing concerns about the agency's shrinking staff and lack of rigorous law enforcement in certain situations.
SEC Chairman Paul Atkins advocates for a more welcoming and constructive regulatory environment, aiming to promote innovation and trust in the crypto industry, in contrast to the previous administration's aggressive regulatory approach.