Blockchain Association Accuses Gary Gensler of Costing Crypto Companies Over $400 Million

The Blockchain Association (BA), an advocacy group for cryptocurrency and blockchain, reported that since Gary Gensler became chair, the U.S. Securities and Exchange Commission (SEC) has cost companies at least $426 million in litigation over digital assets. According to an Oct. 31 update on BA’s “regulation by enforcement” page, the SEC brought 104 cases against the crypto industry between 2021 and 2023. The BA claims that self-reported data from its member companies—a “small slice of the industry”—indicates that crypto firms spent $426 million on “defensive litigation” against the SEC. “The industry – and the American voter – is ready for