TechFlow news, May 26 — According to FinanceFeeds, SEC Commissioner Caroline A. Crenshaw strongly criticized the agency's May 22 decision to withdraw three high-profile lawsuits targeting unregistered dealers. In a public statement, Crenshaw said the defendants' conduct clearly met the statutory definition of "dealer," and federal courts had already ruled that the SEC's lawsuits had sufficient legal basis. She warned that abandoning enforcement of dealer registration rules would lead to an explosion of "toxic financing," harming both investors and issuers. Crenshaw noted this marks another withdrawal following similar cases involving crypto-related entities such as Coinbase, Consensys, and Kraken, reflecting a troubling shift in the SEC's enforcement stance that ultimately undermines investor confidence and the U.S. securities law regime.
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