SEC's Crypto Policy Sparks Internal Discord Amid Enforcement Criticism

SEC Chairman Gary Gensler defends aggressive regulation as Commissioner Mark Uyeda labels it a 'disaster' for the industry.

Commissioner Mark Uyeda criticizes the SEC's cryptocurrency approach, calling it detrimental to assets like Bitcoin and Ethereum.
Gary Gensler remains firm on enforcement, citing widespread fraud and scams in the crypto industry as justification.
Gensler doubts the future of cryptocurrencies as mainstream payment methods, suggesting they will remain a store of value.
The SEC's reliance on the Howey Test for regulation highlights a lack of new frameworks for digital assets.
Internal SEC disagreements reflect broader industry frustration over regulatory clarity and enforcement strategies.