Former US SEC official wants Congress to step in and regulate the cryptocurrency industry

Marc Fagel, a former U.S. SEC official who criticized the agency for being slow to regulate the fast-moving market, wants Congress to step in and regulate the cryptocurrency industry. Marc Fagel said the SEC is used to leaving the fast-moving new space untouched.
Regarding the SEC's pursuit of unregistered companies with no record of violations, Marc Fagel explained that registration is a requirement that facilitates disclosure, asserting that waiting for companies to commit violations before taking action is a passive approach that allows the SEC to keep playing catch-up.