U.S. Securities and Exchange Commission, SEC, involvement in cryptocurrency

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Written by

Professor1

Physicist

2 years ago

In community: Club1BCH(4ac4)

Topics: Exchange commission, Involvement, Crypto, Promotion, Kim

Article No:2

Date: 07/10/22

Topic: U.S. Securities and Exchange Commission, SEC, involvement in cryptocurrency

Hi everyone today i wanna write article on U.S. Securities and Exchange Commission,SEC,involvement in cryptocurrency

The Security and Exchange Commission is a regulatory agency whose name sends wave in the financial environment.

In crypto, their activities can be seen in XRP case, Tornado Mixer Ban and most recently in the leveling of $1.26 million penalty on socialite Kim Kardashian for not disclosing a $250,000 payment received for a crypto promotional involvement.

While many sees SEC actions in crypto as necessary to protect investors and ensure sanity in the system, others labelled SEC as anti-crypto and believed their involvement in crypto is unwarranted, unnecessary and excessive powers, driven too far in a financial environment where they should have little or no jurisdiction.

SEC involvement in crypto currency is not bad but they shouldn’t go too deep.

So long as crypto is concerned and it is being exchanged with local currencies, the SEC will have. Work to do on it, but they are taking it too Deep when it comes to crypto

We can't stay an pretend that the government isn't against crypto

That is outright hypocrisy

Even the US government that we're talking about is mostly against crypto

What makes their employee any different

We all know the job of the SEC but obviously from what they've been doing, they are more concerned about controlling crypto and eliminating any form of decentralization

Take the case of Kim.

Google: she paid fine for taking part in crypto

How many times have you seen evasion of tax being treated with such contempt

A lot of real estate investors have evaded tax a number of times and what they get as fine isn't close to what they fined Kim.

❔Is SEC right to have its eye on crypto and do you think SEC is justified to poke-nose into crypto activities knowing that most cryptocurrencies are regarded as utility tokens and not security assets by many?

🤔 Is SEC involvement in crypto activities necessary or unwarranted and are their activities needed to restore sanity in the system or do you think their actions will further subdue the decentralized financial system, and bring it under centralized surveillance and monitoring?