The U.S. Securities and Exchange Commission (SEC) is upholding its strong position on the crypto industry, with Robinhood Crypto being the most recent entity to be notified of impending enforcement action. This action is part of the SEC's consistent efforts to regulate the growing crypto market, which has been plagued by an abundance of financial scams. Gary Gensler, the Chair of the SEC, is emphasizing the prevalence of scams and fraud in the crypto market, stressing the necessity for cryptocurrencies to be treated as securities.