The Blockchain Association urges Gary Gensler to cease crypto enforcement actions and instead focus on an orderly transition

According to Foresight News, according to Fortune, Kristin Smith, Executive Director of the Blockchain Association, has made comments calling on SEC Chairman Gary Gensler to immediately cease enforcement actions against cryptocurrency companies and instead focus on an orderly transition so that his successor can implement a regulatory framework that aligns with congressional intent and market reality. It pointed out that the regulatory actions of the US Securities and Exchange Commission (SEC) on the cryptocurrency industry have resulted in US companies paying over $400 million in legal defense costs. This data highlights the excessive regulation of the cryptocurrency industry during the tenure of SEC Chairman Gary Gensler. According to the latest poll by the Blockchain Association and HarrisX, two-thirds of voters support the establishment of cryptocurrency market rules by Congress rather than unelected regulatory agencies. It is worth noting that the SEC targets only 0.25% of the global market in the cryptocurrency industry, but its enforcement actions have led to innovation, job opportunities, and economic development being transferred overseas.