a16z Policy Director: U.S. SEC's Irresponsible Approach to Enforcement

a16z Policy Director Brian Quintenz criticized the U.S. Securities and Exchange Commission (SEC) in a post stating that the SEC has recently continued its irresponsible approach to enforcement, hurting entrepreneurs, investors, and consumers and driving responsible, innovative companies out of the U.S. Coinbase has made several attempts to register with the SEC, but the regulator has not responded, and enforcement is not a substitute for guidance. a substitute for guidance, enforcement actions against third parties, such as these exchanges, to determine whether certain tokens are securities are inappropriate, and the SEC should work to protect consumers or provide clarity to the market and work with market participants, U.S. crypto companies, to provide rules to follow, not just litigation.