"I'm afraid, will the SEC act more aggressively after this?"
The Securities and Exchange Commission (SEC) of the United States (US) is still not done pursuing cryptocurrency exchanges or decentralized finance projects (DeFi) that violate securities laws just like Binance and Coinbase.
According to David Hirsch, Head of the SEC's Crypto Assets and Cyber Unit, his enforcement office, which litigates for the SEC, has investigated other firms involved in similar activities, including industry compliance violations.
He added that the SEC has been involved in several crypto cases in federal court, where recently the US regulator is in the process of appealing Ripple's (XRP) decision that ruled the digital asset was not a security.
Even so, the SEC will continue to be active in taking any action so that brokers, traders, exchanges and agencies are always within their jurisdiction either in terms of registration or complete disclosure.
Not only that, Hirsch also stated that investigations into DeFi projects will also be conducted and that the label is not an obstacle for the SEC to continue its work.
Previously, the SEC has often taken a relatively quiet approach, where it has always targeted regulated firms such as Wall Street and legal departments that were quick to negotiate settlements.
But because charges against crypto exchanges have threatened its position as a US regulator, the SEC is more likely to take companies that offer digital asset services to court.
