Over the last few years, the crypto industry has come to view the Securities and Exchange Commission (SEC) as an enemy and the Commodity Futures Trading Commission (CFTC) as a potential friend. Where the two enforcement agencies differed on crypto came down to a matter of philosophy. The SEC publicly took a harsh and antagonistic view of the crypto industry as rife with criminality and needing short reins. The agency under Gensler also felt that existing securities laws could be applied to crypto. The CFTC, in contrast, had a more nuanced view of an industry in need of regulation that fit the new paradigm it was bringing to the financial markets. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io