Crypto companies made ‘calculated’ decision to flout rules, says SEC chair

Chair of the U.S. Securities and Exchange Commission, Gary Gensler, refutes claims of trying to crush the crypto industry, stating that firms have made a “calculated economic decision” to flout SEC rules. Gensler reiterated his view that most crypto tokens classify as securities and should register with the SEC. After the SEC sued two of the largest crypto exchanges, Coinbase and Binance, the industry has attacked Gensler. However, Gensler hit back, stating that the rules are clear and have been established with over 100 crypto enforcement actions, with companies making a “calculated economic decision” to take the risk of enforcement.