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U.S. SEC's enforcement cop says crypto company amnesty is not on the table

2022/03/01 08:44

According to Reuters, the U.S. Securities and Exchange Commission (SEC) will not offer amnesty to cryptocurrency companies that self-report violations of securities laws, although they may face smaller penalties, the agency's enforcement director Gurbir Grewal said. "Our message to them is not, 'Register your product and we'll just ignore the billions you have under management in this crypto lending product and your violations of the securities laws,’" said Grewal. The agency has toughened its cryptocurrency clamp-down under Chair Gary Gensler, who has said many cryptocurrency products and platforms are governed by existing SEC rules.
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