Mark Uyeda, a commissioner of the US Securities and Exchange Commission (SEC), expressed objections to the approach of SEC Chairman Gary Gensler regarding cryptocurrency regulation. Uyeda stated that while the easiest response of regulatory bodies to cryptocurrency and digital asset innovation is to “shut everything down” using bad actors as an excuse, regulatory agencies should create a compliant path for legitimate efforts. He said, “The SEC has not yet developed such a path.”
Mark Uyeda is a supporter of a Bitcoin exchange-traded fund (ETF) and has opposed the SEC’s rejection of Coinbase’s rulemaking request. He, along with other commissioner Hester Peirce, has questioned the SEC’s approach to handling NFTs and called on the agency to address jurisdictional issues when it comes to tokenized digital art.
Source: https://blockworks.co/news/empire-newsletter-gary-gensler-crypto-regulation