SEC is right about crypto laws. The laws, however . . .
Yesterday, the US Securities and Exchange Commission for selling its XRP crypto the wrong way. dropped two more charges against Ripple The score stands at Ripple 3, SEC 0. Ripple isn’t the first crypto business to defeat the regulators. SEC Chairman Gary Gensler seems to lose, like, half of the crypto cases that go to trial. That’s an abysmal record for a US government agency, but I can’t object to Gary’s interpretation of US securities law. Legally speaking, he’s right.
protects consumers against bad faith and abusive activities of financial entities. Why can’t we let them supervise crypto exchanges and new token creators? Go after the actual abusers rather than the cryptocurrencies themselves. What about the Federal Communications Commission? FCC regulates the internet. Crypto is sent and received on the internet. Some call it “the Internet of Money.
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