SEC Cracking Down on Crypto Innovators

Earlier this week, the owner of Terraform, Singaporean crypto innovator and inventor of the “mirror protocol,” was handed subpoenas by the SEC while he was visiting New York. In reaction to this, he is suing the SEC.

SEC Commissioner Gary Gensler has a strict stance on the regulation of the crypto market despite the unclear regulatory status of cryptocurrencies. As a result, the SEC is cracking down on crypto innovators in an effort to establish control over the cryptocurrency market. Managing Partner, Christopher Warren comments on this matter, “As the SEC further inserts themselves into the crypto market, they will continually be moving towards tightening their grip by increasing their investigatory and enforcement efforts. At the end of the day, it does not matter that Mr. Kwon was publicly handed a subpoena, what matters is that the SEC is going after the crypto market and doesn’t care if a target is a non-U.S. person”

If you are actively engaged in creating a cryptocurrency, NFT, or ICO or have been served with an SEC subpoena, it is imperative to receive legal help to protect your rights. Contact the attorneys at Warren Law Group at (866) WLGROUP, or email info@warren.law

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Warren Law Group

WLG provides legal representation to financial services professionals and business owners in regulatory and compliance matters, litigation, and securities.