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SEC Announced it Will Not Tackle Cryptocurrency Regulation this Year

•Late Monday afternoon, the U.S. Securities and Exchange Commission (SEC) made public its regulatory agenda for 2021.

•This is an unexpected development for many market watchers because the chairman made repeated public comments, including a broadcast interview last month, where he stated that the cryptocurrency space needed oversight to protect investors.

•The regulatory omission of crypto from the SEC’s possible policy punch list is surprising given recent news regarding cryptocurrency miner energy consumption, increasing ransomware attacks

[source](https://m.investing.com/news/cryptocurrency-news/sec-announced-it-will-not-tackle-cryptocurrency-regulation-this-year-2532722)



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32 Comments

  1. The U.S already has a lot of existing laws and agencies to deal with theft, fraud and ransom in the crypto space. They certainly seem to be sending the message that future regulation is to be expected, right now they may not know exactly what regulation and tools they will need.

  2. They probably want to take more time in the background to come up with something. Some regulation would’ve good and hopefully from the minds of people who know about crypto. Odds are when it come tho it won’t be well thought out but we can hope…

  3. Yesterday there was another thread about the same topic in this same reddit, please read other topics before opening a new one, when there’s some news I have to read it 3-4 times because people can’t be bothered to read if anyone already opened a thread about it.

    ​

    (the same goes with “congratulations, you hodled during a dip” each times there’s a three days market contraction, but it’s a completely different subject……)

  4. Which means ‘were taking donations from lobbyists and are open to manipulative bribes before we decide which directions to go. Fucking shit ass worthless cunts

  5. My guess is they were trying to “rally” normal folks to get them frothing at the mouth so they would have a mob behind them and could justify trying to cripple the market on behalf of traditional financial institutions. When they didn’t get the mob they thought they would they stepped back. Needs more time for propaganda and misinformation so they can get more people on their side before making a move.

    Also, SEC investigates insider trading and a lot of traditional financial institutions are now investing in crypto… I have no idea if this is a thing but is insider trading in crypto a thing? I’m guessing that if it’s not investigated/regulated already then that would be part of the regulation… Seems like the doors are open for exploitation if that’s the case but idk, I’m kind of an idiot when it comes to this stuff.

  6. From TFA:

    > he did note a distinction between cryptocurrencies and unregistered securities merely posing as cryptocurrencies, which his agency will address. He said: “To the extent that something is a security, the SEC has a lot of
    authority. And a lot of crypto tokens — I won’t call them
    cryptocurrencies for this moment — are indeed securities”.

    If you own XRP or LBRY, and you are not an intellectual property lawyer specializing in digital assets, you should really think twice about your strategy.

  7. Not enough banks and hedge funds have bought in to crypto yet. They need to fill their bags first, then regulate.

    That way, the incoming regulation can target all the retail investors who **didn’t** get bullied out by big business tactics, thus leaving only big business inside. The current crypto whales (early adopters) aren’t the people that they want with a large market share, so forcing them out first is important.

    Then the next item on the agenda would be to *prevent* persons from simply switching coins and using another blockchain (aka the anti-shitcoin clause).

    Just because they say they have no plans for tackling cryptocurrency in 2021 doesn’t mean they aren’t planning to regulate it at all, they just aren’t ready yet.

  8. The SEC is tackling ICO coins with its Ripple lawsuit.

    House Fin Services, FDIC, Treasury, Fed Reserve, Intelligence Agencies, and OCC are all targeting crypto…this subreddit is an echo chamber that ignores actual news.

What do you think?

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