Even the most stalwart crypto supporters could see why the Securities and Exchange Commission might target the crypto in...

cryptopress

Qualified
Jul 15, 2023
146
120
5

Even the most stalwart crypto supporters could see why the Securities and Exchange Commission might target the crypto industry for some enforcement. Events of the past year — from the failure of Three Arrows Capital to the fraud at FTX — were bound to bring some scrutiny, and the industry has always been too hospitable to blatant hucksters. But the recent spate of enforcement actions by the SEC and U.S. agencies do not meet the standard of protection. Instead, a close review of everything from the banking crackdown earlier this year to the endless regulation by enforcement strikes a different chord. It seems as if the U.S. government is taking action to protect the financial services industry from disruption. Exhibit A of this phenomenon is the SEC’s mammoth suit against Coinbase — a company long perceived to be one of the “good guys” in crypto. Its client list includes large asset managers, Fortune 100 companies and the U.S. government itself, none of which have ever complained about the integrity of its services. Unlike FTX, Coinbase has never defrauded its customers. It didn’t base itself in an offshore tax haven and has never been hacked. In fact, the company has repeatedly stated its intent to be regulated and has gone as far as suing the SEC to force it to provide a roadmap on how. Its reward? A 100-page suit full of contradictions, like some layer-1 tokens being securities and others not. Imagine a town that refuses to tell you what the speed limit is but frequently gives speeding tickets. Nobody would take such a place seriously. We still don’t know whether Ether is a security, despite SEC Chair Gary Gensler telling us repeatedly that his agency has all the authority it needs to make that call. New technologies often clash with old rules, and regulatory agencies can initially struggle to understand startups because they don’t understand the tech. Gensler doesn’t have that excuse. #bitcoinguru #cryptocurrencymarket #antminers #tradinglifestyle #cryptoinvestor #cryptomoney #invest #sharecrypto #cryptohumor #bitcoinnews #cryptocurrencies #bitcointrading #bitcoincash #cryptoeducation #cryptomillionaire #bitcoinuk #bitcoinminingusa #bitcoininvestors

Whether you're a beginner or an experienced user, parofix.com caters to everyone's needs with comprehensive content. Gain insights into how Bitcoin works, learn to use crypto wallets securely, and stay updated with the latest investment strategies on this platform.

If you're eager to track the real-time prices of cryptocurrencies, parofix.com provides live charts and market data. By staying informed, you can make more informed decisions and seize opportunities in the crypto world.

Please note that while parofix.com strives to provide valuable information, it does not offer investment advice. Before investing in cryptocurrencies, conduct thorough research and consider your risk tolerance.
 
  • Haha
  • #%@$!
Reactions: Loopring and Angelo