Cryptocurrency firms are frustrated at the U.S. government for its lack of clear rules for the industry and the Securities and Exchange Commission for its aggressive actions against digital currency firms. Meanwhile, since the collapse of Crypto exchange FTX last year, the U.S. SEC has stepped up enforcement action against companies.

Some in the crypto industry feel this is not the right path to take, while SEC Chair Gary Gensler addressed a lot of these points in a opinion piece he wrote in The Hill this month. He laid out instances where Crypto Firms come under existing securities laws, such as when a company offers lending products.

The Ripple president referenced MiCA, a law that required the agreement of all 27 nations that make up the EU, calling it “remarkable when the U.S. has one government and they can’t get their act together.”

The post ‘Can’t get their act together’: Crypto Firms Slam SEC, Washington for lack of clarity on rules appeared first on Balanced News Summary.