SEC paints ‘a distorted picture’ of USD-stablecoin market — Crenshaw

US Securities and Exchange Commission (SEC) Commissioner and vocal crypto critic Caroline Crenshaw has accused the US regulator of downplaying risks and misrepresenting the US stablecoin market in its newly published guidelines.

However, many in the crypto industry see the SEC’s decision as a step in the right direction.

In an April 4 statement, Crenshaw, widely known for opposing the spot Bitcoin ETFs, said that the SEC’s statement on stablecoins contained “legal and factual errors that…