It's far from over - SEC, Coinbase, Binance and the future
The gold market can become dull at times. Considering it is a commodity that has been traded for over 5,000 years, it is no wonder that a mature market will find stability and its marketplace becomes quiet. That is why the chatter around the gold will become stale and you will be subjected to the same regurgitated commentary for long periods of time. I for one try to refrain from torturing readers with yet another article about gold and the debt ceiling or the Fed etc.
After the failure of the infamous FTX Crypto Exchange in November of 2022 many politicians took hold of this issue to portray themselves as some kind of social warriors out to protect the downtrodden from the evils of Crypto. It was actually quite pathetic sight to witness. As a person that tortured myself by watching most of the Congressional hearing in December of 2022, I was shocked at the rampant ignorance often being spewed by these same politicians on live television.
The clamor from the politicians was for the SEC to take responsibility. However, nothing is clear about this new industry and the SEC is a regulatory body for the offerings of securities and the exchanges. Now of course, they have found their way to sue Coinbase and Binance over some things that they have no authority to do. It is often the case that they are entering the void of the new market as well to keep their position as the be-all of the investment market.
However, more importantly is that the real issue has not been addressed in a public forum where the Congress driven by their constituents are supposed to propose to the nation the path forward. No one voted for the SEC’s employees in office, and they do not have the power to determine for themselves what is or is not a security. The representative of the people must do this. Last I knew, this is a country for the people and by the people, not for the bureaucrats and by the bureaucrats.
France Dernières Nouvelles, France Actualités
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