The U.S. Securities and Exchange Commission (SEC) announced today that Gurbir S. Grewal, director of its Enforcement Division, will resign on October 11. Grewal took a tough stance on the cryptocurrency industry during his tenure and sued many crypto giants such as Binance and Coinbase. His Will leaving represent a shift in attitude at the SEC? (Preliminary summary: Crypto moms bombarded Gary Gensler: It should have been recognized that cryptocurrency is not a security, and SEC supervision is too excessive...) (Background supplement: SEC warns Bitcoin and Ethereum ETFs are highly speculative: these six major risks cannot be Neglect) The U.S. Securities and Exchange Commission (SEC) announced today (3rd) that Gurbir S. Grewal, Director of its Enforcement Division, will leave his post on October 11. During his tenure, he helped lead the investigation into Wall Street’s use of WhatsApp communications and led the investigation into encryption. The cryptocurrency industry has taken a series of tough law enforcement actions, suing dozens of crypto companies including Binance, Coinbase, Ripple, and Metamask parent company Consensys. Grewal, a former New Jersey attorney general, joined the SEC in 2021 as director of the Enforcement Division on Wall Street. During his tenure, he was known for advocating for greater enforcement against securities law violators and taking a tough stance on cryptocurrencies. In a press release, the SEC also specifically praised his enforcement achievements in the field of cryptocurrency: "Under Grewal's leadership, the Division initiated and requested the Commission's approval of more than 100 enforcement actions to address widespread violations in the rapidly growing cryptocurrency field. "The violations, including against the operator of the world's largest crypto-asset trading platform and the operator of the largest cryptocurrency, failed to comply with the registration provisions of the federal securities laws, thereby depriving investors of protections," the SEC said under Grewal's leadership. The SEC has taken more than 2,400 enforcement actions and imposed more than $20 billion in fines and disgorgement of ill-gotten gains. It also banned more than 340 people from Wall Street and issued more than $1 billion in bonuses to whistleblowers. SEC Enforcement Division Acting Director: Sanjay Wadhwa Regarding Grewal’s departure, SEC Chairman Gary Gensler, who has adopted an ultra-hawkish stance on cryptocurrencies, said: “Grewal has spent every day over the past three years thinking about how to best protect investors and help ensure Market participants comply with our time-tested securities laws.The department he leads is unafraid and unbiased, and follows the facts and the law regardless of what they are. "The cryptocurrency community and cryptocurrency-friendly lawmakers are happy to see Grewal leave. The Wall Street Journal pointed out that House Majority Whip Tom Emmer (Republican) wrote on Twitter today: "SEC Enforcement Director Grewal encourages The SEC has committed violations and chaos under Gensler, and it’s good to see him packing his bags.” The SEC also announced a series of new appointments. Sanjay Wadhwa, who currently serves as deputy director of the Enforcement Division, has been appointed as acting director. , Sam Waldon, currently chief legal counsel, will become acting deputy director. Sanjay Wadhwa Will SEC’s hawkish stance on Crypto turn? Some believe Grewal’s departure could be a sign of a softening of the SEC’s tough stance on cryptocurrencies, but some experts clearly don’t think so. David Oliwenstein, a former SEC enforcement lawyer who is now a partner at the law firm Pillsbury Winthrop Shaw Pittman, told Bloomberg: For any market participants who think Grewal’s departure signals some kind of softening, that’s not true. Sanjay's (acting director) views on law enforcement are at least as radical. Related reports: The United States will hold multiple encryption hearings in September. Will the SEC target DeFi next? SEC locks NFT as a security! OpenSea's receipt of Wells Notice caused a storm in the market, BLUR and TNSR both plunged. Crypto moms logged on to ABS to talk about Web3 supervision. How to resolve the contradiction between the SEC and the market? Crypto mom Hester Peirce is the next SEC chair? Gemini calls on Kamala Harris and Trump to nominate before the election "Will the SEC turn? The hard-line director of the Enforcement Department has resigned and has led more than 100 encryption regulatory actions in 3 years." This article was first published on BlockTempo (Dong District Dong Trend-Most Influential blockchain news media).

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