Gurbir S. Grewal, head of the enforcement division of the Securities Exchange Commission (SEC), discussed cryptocurrency regulation at a symposium at the College of William and Mary Business School Law Review earlier this month. He emphasized the need to enforce federal securities laws in the evolving cryptocurrency market. Grewal noted that the principled definition of securities in the 1946 Supreme Court decision, SEC v. Howey, still applies to new investment schemes, including cryptoassets. The head of the U.S. SEC's enforcement division highlighted the significant investor losses caused by fraudulent crypto activities and stressed the urgent need to address these harms. He noted the numerous charges filed against issuers who conducted unregistered and deceptive offerings. Grewal emphasized that innovation and compliance with securities laws are not mutually exclusive and that the securities regulator is committed to working with cryptocurrency entrepreneurs to ensure compliance while promoting technological advancements. Finally, he emphasized the need for strong enforcement to preserve public trust, protect investors and enhance confidence in financial marekt by holding violators accountable and fostering a culture of compliance.