The regulatory rush is just starting - regulation
The regulatory rush is just starting - regulation
The former head of the Internet enforcement of the Securities and Exchange Commission (SEC) has warned the crypto industry that a "regulatory rush is just beginning". His warning followed several recently carried out enforcement measures by the securities supervisory authority against large crypto companies.
"The regulatory rush of the seconds is only at the beginning"
The former official of the Securities and Exchange Commission (SEC), John Reed Stark, warned the crypto industry about an escalating "regulatory rush". Strong founded and served as head of the Sec Office of Internet Enforcement for 11 years. He was also a SEC enforcement lawyer for 15 years, where he led cyber-related projects, investigations and enforcement measures.
Stark said on Thursday in a tweet that the Sec “Blockfi hit because it did not register its crypto rental program, prevented Coinbase from starting his crypto rental program, and just hit Zwillinge/Genesis for his earn-krypto-lending handle. " He warned:
Buckle up: a regulatory rush of the Sec has just started.
Last week the sec Calculated Krypto exchange gemini and Crypto lender Genesis "for the non-registered offer and the sale of securities to private investors via the crypto assets program Gemini Earn". In February last year, the regulatory authority took measures against the cryptocurrency rental platform Blockfi who requested coin basis if the nasdaq noted Crypto exchange started a credit program in September 2021. Coinbase then put his plan back.
Stark is a loud crypto skeptic who regularly comments on social media about the risk of investments in cryptocurrencies. "The Ponzi Hütchenpiel continues in the crypto country and a spiral of death may now have started," he said last November. "Do not fail at your own risk, crypto investors," he emphasized, emphasizing that Krypto "no FDIC insurance, no SEC test teams, no official supervision, no license and no consumer protection". He warned that crypto investments apply:
You are 100% on your own.
Centing on strong was also CNBC MAD Money-Moderator Jim Cramer Warning About the Sec that makes "a big swing" in the crypto industry. He asked investors to do this .
Do you agree to John Reed in relation to crypto and that a regulatory attack by the SEC is just beginning? Let us know in the comment area below.
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