Delusions of rage? – No, it’s not a bad late April Fool’s joke, but the Securities and Exchange Commission (DRY) who just released an incredible collection of cliches out of nowhere against Bitcoin (BTC) and cryptocurrencies. After being treated planet destroying eco monster – clearly responsible on its own for global warming -, Bitcoin would now also be racistbecause he “would harm minorities”. To top it off, the SEC wants to be able to oppress all cryptos like securities (securities).
The SEC must continue to be “aggressive” against cryptos
There Securities and Exchange Commission is one of the two financial policemen of the United States, with the Commodity Futures Trading Commission (CFTC). If the SEC attacked sporadically certain crypto projects whose tokens looked a little too close to securities, the year 2022 will have been a turning point. Stung by the cascade of bankruptcies (bad actors) in the cryptocurrency sector, the institution now wants control and rule everything.
In a letter addressed to Gary GenslerChairman of the SEC, Investor Advisory Board (IAC) of the Securities and Exchange Commission fires red balls on Bitcoin and crypto-assets. In addition to unilaterally appropriating jurisdiction over digital assets, this SEC committee wants reinforced attacks against industry players.
“(…) We believe that substantially all, if not all, of cryptocurrencies are securities and that they – and the platforms and custodians that trade them – are subject to regulation under federal laws. [américaines] on transferable securities (…). We think it is very unfortunate and concerning that there are legislative proposals to exclude cryptocurrencies from federal securities laws (…). The SEC should continue to be aggressive, taking enforcement action against companies that violate [ndlr : selon les critères bancals de la SEC] federal securities laws in the crypto-asset sector. (…)”
Excerpt from the IAC letter
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Financial watchdog advisers view digital assets as racist
More amazingly, this committee finds a way to come and talk about aggrieved “minorities” through investments in cryptocurrencies. Yet real racism seems rather imply that these minorities would be more likely to make bad crypto investments and that you have to protect them from themselves in addition. Wouldn’t that be a fine example of totally unhealthy paternalism? Everyone will judge.
“(…) A significant part of the losses [engendrées par les faillites cryptos] was supported by unsophisticated investors (unsophisticated), including many minority investors, looking for rapid growth in their investments, without having the knowledge or information to assess the risks associated with those investments. »
Excerpt from the IAC letter
It is becoming more and more obvious to everyone that Joe Biden’s Administration Has Declared War on Bitcoin and Cryptos. It is, moreover, Joe Biden who chosen, shortly after his election, Gary Gensler as Chairman of the SEC. Instead of the usual and exhausting quarrels between the maximalists of one project or another, the whole cryptosphere will have to be united to face the many battles that come, under false regulatory cover.
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