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As the regulatory landscape continues to be shaky for crypto players, some regulators may be overreaching when it comes to creating frameworks for the industry, said Haun Ventures\u2019 chief strategy officer, Chris Lehane, at TechCrunch Disrupt 2023<\/a>.<\/p>\n \u201cThe government had a strategy,\u201d Lehane said. But when the SEC is looking at crypto or other hot sectors like artificial intelligence, it\u2019s using an \u201cenforcement-only approach to basically establish the policy for the entire U.S. and crypto,\u201d he said.<\/p>\n In recent months, the SEC has filed a number of lawsuits against major crypto companies, including Binance and Coinbase, and even against celebrities like Mila Kunis<\/a>. But last month, the D.C. Circuit Court of Appeals ruled in favor of Grayscale<\/a>, a digital asset management firm, in a lawsuit against the SEC on the matter of a bitcoin ETF, which could spell good news for the industry.<\/p>\n \u201cThe SEC has lost a number of cases \u2014 that almost never happens \u2014 which tells you a little bit how they\u2019re over their skis,\u201d Lehane said. \u201cBut that runs a big risk of [the government] not approaching this strategically.\u201d<\/p>\n<\/p><\/div>\n