SEC Commissioner Mark Uyeda called the agency's approach to cryptocurrency regulation a "disaster." He said SEC Chairman Gary Gensler is applying policies without clear rules, leading to disagreements in the courts. 🤔

Crypto exchange Crypto.com has filed a lawsuit against the SEC, claiming the regulator has overstepped its authority by treating nearly all cryptocurrencies as securities.

Many in the industry have criticized Gensler for his heavy-handed and unclear approach to crypto regulation.