Gary Gensler refused to recuse himself from participation in the lawsuit against Binance

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The chairman of the US Securities and Exchange Commission (SEC) said that he would not step back from participating in cases about cryptocurrencies, which are now being considered in court.

Gary Gensler told reporters that he is "fully compliant" and "well aware of his ethical responsibilities."

This was Gensler's response to an open letterBlockchain Association, which circulated at the end of June and called for Gensler to stop doing business with crypto companies. At the moment, the SEC is pursuing cases against the largest exchanges Binance and Coinbase, as well as Ripple.

The association claimed that the SEC had failed underGensler's leadership, as the chairman showed prejudice against the entire crypto community. Blockchain Association experts say that since his appointment, Gary Gensler has made it clear to the public that from his point of view, all digital assets, except for bitcoins, are securities.

Earlier, former SEC chairman Jay Clayton said that the current chairman exceeds his authority, and the actions of the regulator may be politically motivated.