Amidst SEC’s lawsuit against Coinbase, Enforcement Director Gurbir Grewal reportedly points to crypto's 'noncompliance' culture.
Gurbir Grewal, director of the United States Securities and Exchange Commission division of enforcement, has reportedly said the entire crypto industry was “built around noncompliance,” leading to enforcement actions.at an event hosted by law firm Lowenstein Sandler and Rutgers University Law School in New York, which also featured Coinbase chief policy officer Faryar Shirzad.
“Even if you came up with a bespoke rule set, you have an entire industry where the ethos is built around noncompliance,” said Grewal. “Typically, you’d also see compliance, but we’re not seeing that in this space, so we had to change strategies."
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