The Blockchain Association, a lobby group focused on cryptocurrencies, announced that cryptocurrency firms have spent about $426 million fighting a lawsuit filed by Gary Gensler, chairperson of the Securities Exchange Commission. In the report, the Blockchain Association criticized the agency's "enforcement regulation" approach, which has affected the entire crypto industry. In addition to the cost of responding to complaints and cases, the Blockchain Association also pointed to the issue of unemployment, which will have a negative impact on the economy.