Ryan Selkis, CEO of Messari, has launched a scathing attack on the U.S. Securities and Exchange Commission (SEC), accusing it of corruption and incompetence under Chairman Gary Gensler.

Selkis declared independence from the SEC, vowing to wage a "war" against what he perceives as an illegitimate agency prioritising its own interests over investor protection and market stability.

He criticised the SEC's handling of cryptocurrency regulations, arguing that its actions have hindered industry growth and harmed investors.

Despite ongoing criticism from within the crypto sector and American politicians, the SEC continues to pursue legal actions against crypto companies, maintaining its regulatory stance amidst mounting opposition.