SEC Commissioner Hester Peirce has blamed the proliferation of fraud in the crypto industry on the aggressive anti-crypto policies of former SEC Chair Gary Gensler. Peirce argued that the agency's enforcement-focused approach and lack of industry-specific rules under Gensler actually increased fraud and harmed the industry. She implied that headline-grabbing crypto scandals may not have happened if not for Gensler's policies. Peirce and her colleagues have dismissed lawsuits and ended investigations into several crypto companies in recent weeks, signaling a shift in the SEC's approach. However, Peirce noted that the SEC will continue to use enforcement when appropriate and fraudsters should not expect to act with impunity.



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