The U.S. SEC Enforcement Director, Gurbir Grewal, expressed disapproval towards the lack of compliance within the crypto industry. During the SEC Speaks event, Grewal addressed criticisms aimed at the agency regarding their stringent crypto regulations. Grewal mentioned facing challenges such as non-compliance and attempts by market participants to evade SEC jurisdiction. Some accuse the SEC of hindering innovation and pushing crypto businesses towards more favorable jurisdictions abroad. However, Grewal highlighted concerns about certain crypto entities targeting marginalized communities with "predatory inclusion" tactics. In response to these issues, the SEC has intensified its efforts to regulate the cryptocurrency sector. In the past year, the agency has initiated criminal cases against prominent figures like Terraform Labs' Do Kwon, Hex Co-Founder Richard Hart, FTX Founder Sam Bankman-Fried, and leaders of a collapsed exchange. Furthermore, trading platforms like Genesis, Gemini, Celsius, Nexo, and Kraken have faced charges for offering unregistered securities. Kraken resolved the allegations by paying a $30 million fine.