18 States Sue SEC Chair, Gary Gensler Hints at Resignation
The lawsuit, led by Republican attorneys general, argues that Gensler's "regulation by enforcement" approach undermines states’ authority to regulate cryptocurrencies and stifles innovation.
The lawsuit, led by Republican attorneys general, argues that Gensler's "regulation by enforcement" approach undermines states’ authority to regulate cryptocurrencies and stifles innovation.
Shaktikanta Das warned that widespread adoption of cryptocurrencies could undermine the RBI’s control over the economy, particularly with regard to money supply and inflation control.
The Indian stance mirrors recommendations by international bodies, such as the IMF and Financial Stability Board (FSB), to allow member states to implement stringent crypto restrictions.
The move positions the cryptocurrency platform alongside several other industry peers taking legal action against the federal agency, which they claim is overstepping its legal boundaries.
During Gurbir S. Grewal's time as Director of the SEC’s Division of Enforcement, the agency pursued over 2,400 enforcement actions, securing more than $20 billion in penalties, and returning billions to harmed investors.