According to data disclosed by the Blockchain Association, since Gary Gensler became the chairman of the US SEC, the US crypto industry has spent more than $400 million to respond to the agency's enforcement actions. During this period, the US Securities and Exchange Commission has filed lawsuits against some large crypto companies, including Coinbase and Kraken. It is reported that the figure of $400 million is based on self-reporting by members of the Blockchain Association, reflecting the huge compliance costs and potential damage to industry innovation and employment caused by SEC enforcement. The association's members include companies such as Ripple, Coinbase, Crypto.com, Grayscale and Kraken. (TheBlock)