The SEC wants to send a clear message to those who are not trying to operate by the books, that they will not be allowed to target citizens in the country.
We are certainly going to commence enforcement actions on anyone who wants to operate in this market and does not have the intention of being regulated.
All this we seek to do without hindering innovation because part of our primary responsibility as the SEC is market development.
The nations approach to crypto has been rather strict despite granting licenses to crypto firms.
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