SEC Chair Gensler Defends Existing Crypto Regulations Amid Coinbase Pushback

SEC Chairman Gary Gensler has stated that the agency has already published rules for crypto companies to remain compliant with federal law, pushing back on criticism that the SEC has not provided useful guidance. Gensler also reminded the public that cryptocurrency companies tend towards centralization and fraudulent business models. He stated that the SEC "stands ready to help" crypto companies come into compliance with regulations. Critics have called such offers disingenuous, including the SEC's own crypto-friendly commissioner Hester Peirce.