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SEC Crypto Policy Flawed, Paradigm VP Alexander Grieve Says

Author: Content Editor
Paradigm's VP of Government Affairs, Alexander Grieve, has criticized the US Securities and Exchange Commission (SEC) for its policies and actions in the crypto industry. Grieve accuses the SEC of "carpet-bombing" the industry in the name of investor protection and targeting companies that have built value in crypto with subpoenas, Wells Notices, and enforcement actions. He highlights cases such as Coinbase, Kraken, Binance, Robinhood, Uniswap, ConsenSys, OpenSea, and D.E.B.T. Box as examples of the SEC's actions. Grieve also accuses the SEC of "forum shopping," choosing favorable courts for claims, and using smaller entities' settlements to pursue larger companies. This criticism comes after Paradigm previously criticized SEC Chair Gary Gensler's regulatory approach. Paradigm's policy manager, Brendan Malone, also criticized the SEC for using litigation instead of clear regulations and targeting individuals with limited resources to set precedents on token issuance cases. Hester Peirce, a commissioner at the SEC, also admitted flaws in the agency's crypto policy enforcement recently.

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