09-12-2022, 08:13 AM
The SEC wants to investigate "every" crypto exchange and cryptocurrency over the sec
<!-- SC_OFF --><div class="md"><p>Recently the SEC opened not one, but two new departments to focus on crypto-related regulation and services. It's The Office of Crypto Assets and The Office of Industrial applications and services. Both are meant to give more ground on whether cryptos are securities or not, just how well they have done in the Ripple case... (not at all).</p> <p>SEC chairman Gary Gensler who is sometimes a bit bullish on crypto has now officially said that every cryptocurrency is a security "just like stocks in a company". Well first of all crypto usually does not have a company like entity that controls every single asset but just a foundation that has a few of those assets for themselves.</p> <p>Furthermore they want to investigate every single crypto exchnage, which would certainly be hundreds or even thousands as nowadays every crypto makes their own exchnage even meme coins. So there is no way they can actually do that but they will probably claim to do it and just blindly say everything is a security, classic SEC.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/partymsl"> /u/partymsl </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/xbs8da/the_sec_wants_to_investigate_every_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/xbs8da/the_sec_wants_to_investigate_every_crypto/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>Recently the SEC opened not one, but two new departments to focus on crypto-related regulation and services. It's The Office of Crypto Assets and The Office of Industrial applications and services. Both are meant to give more ground on whether cryptos are securities or not, just how well they have done in the Ripple case... (not at all).</p> <p>SEC chairman Gary Gensler who is sometimes a bit bullish on crypto has now officially said that every cryptocurrency is a security "just like stocks in a company". Well first of all crypto usually does not have a company like entity that controls every single asset but just a foundation that has a few of those assets for themselves.</p> <p>Furthermore they want to investigate every single crypto exchnage, which would certainly be hundreds or even thousands as nowadays every crypto makes their own exchnage even meme coins. So there is no way they can actually do that but they will probably claim to do it and just blindly say everything is a security, classic SEC.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/partymsl"> /u/partymsl </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/xbs8da/the_sec_wants_to_investigate_every_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/xbs8da/the_sec_wants_to_investigate_every_crypto/">[comments]</a></span>