Was the fault of FTX Gary Gensler? Unclear laws created a ‘refuge for bad actors’, says Hester Peirce

Less than a day after the sec formally rejected His lawsuit against Coinbase, the chief of the new of the agency Crypto Task Force seemed to blame the policy developed by the former chairman of the Bureau, Gary Gensler, for the spread of fraud in the industry in recent years.

In one rack Published Friday, SEC commissioner Hester Peirce argued that by focusing the crypto sector with a reaching Enforcement actions And explicitly refused to create Industrial rulesThe agency increased the proliferation of fraud and crime among former President Joe Biden.

“The decision of the previous committee to shift [its regulatory] Function to the enforcement department by participating in a large-scale regulation-per-enforcement initiative damaged the American public, the industry adversely affected the ability of the capacity and dedicated professional employees of the committee to use their expertise as intended to be used, “said Peirce.

The Commissioner further implied that the many headline-grabbing crypto scandals of the last four years-in particular the implosion of $ 32 billion of FTX-It did not happen if it is not for the aggressive anti-crypto policy of Gensler.

‘The American public suffered because environments in which the law is unclear are ports for bad actors and hostile territory for authority -guided people who try to solve the problems of society legitimate and to meet his needs, “Pornce added.

In the past two weeks, Peirce and her colleagues have settled most of the Crypto -Caseload of Gensler, rejected lawsuits and investigated investigations in such Robinity” Uniswap Labs” OpenSea” Consensysand coinbase.

After the SEC has submitted to rejecting its lawsuit against Coinbase on Thursday, the agency suggested a statement that it has chosen to wipe the Lei Clean and start freshly assess how crypto companies should best meet the federal securities laws.

While that re -evaluation looks ready to favor the crypto industry – and has benefited all its top fairs and secondary market places – legal experts told Decrypt Earlier this week, some token emissioners will probably still be confronted with control of the regulator.

Peirce repeated today that the public would not expect that the SEC will withdraw completely, nor can fraudsters expect to act with impunity: “[It] In the right cases, the use of the committee of her enforcement tool will not be ended, “she said.