US Regulators Defend Crypto Crackdown Despite Criticism.

The head of the SEC's Enforcement Division, Gurbir Grewal, stated that the agency is not concerned with labels in crypto cases, but rather with the offerings and activities within the sector. He also emphasized the importance of technology and the agency's focus on investigating fraudulent DeFi offerings. Grewal noted that recent enforcement actions within the crypto sector are a result of increased risk and the agency's commitment to doing its job. He also highlighted the importance of cooperation among regulators to prevent regulatory arbitrage by bad actors.