The ongoing confrontation between the US Securities and Exchange Commission (SEC) and representatives of the crypto industry is threatening to escalate once again. Recently, SEC Chairman Gary Gensler praised his agency's approach to regulating industry companies through legal action. "Sometimes we have to resort to enforcement to bring people back onto the right side," he stated.

It is worth noting that under Gensler’s leadership, the SEC has filed numerous lawsuits against crypto companies for violating securities laws. Among the defendants are leading centralised exchanges such as Coinbase, Binance, and Kraken, as well as the fintech company Ripple, which issues the XRP token. At the same time, the agency has refused to develop clearer regulatory guidelines or criteria for determining whether a particular cryptocurrency is classified as a security or a commodity. In assessing the prospects for cryptocurrencies, Gensler offended the digital industry by citing Gresham's law: "Bad money drives out good."

Of course, it stings when cryptocurrencies are labelled as "bad" and crypto advocates are seen as being on the "wrong side." However, it turns out that not only can the authorities file lawsuits against commercial organisations, but the reverse is also true. For instance, the exchange Crypto.com has filed a lawsuit against the SEC, accusing the agency of overstepping its authority. "This unprecedented action against a federal agency is a justified response to the SEC's enforcement actions, which have harmed over 50 million American cryptocurrency holders," said Crypto.com CEO Kris Marszalek. According to him, since the Commission has overstepped its legal boundaries, it has now become an entity operating outside the law itself.