The American securities regulatory body’s popularity is now getting down and now people are not interested in what this regulatory body is doing against crypto companies.
The United States Securities Exchange Commission (SEC) is the top US financial regulator. Gary Gensler, the chairman at this independent government regulatory agency, trying to regulate the US crypto market under the traditional securities laws, which were developed several years ago before the origin of the crypto industry. The SEC agency is known as a crypto hater because of its bad crypto regulatory approach.
Recently some reports noted that the popularity of this US regulatory body is now getting down sharply. After the agency’s regulatory action against the American public crypto exchange Coinbase (COIN) & Ripple’s victory against the SEC suit, people are unlikely to search & discuss the SEC’s activities.
Pro XRP supporter & CryptoLaw firm founder John Deaton talked about this thing and said that unfair blind regulatory action by the SEC resulted in the downfall of the agency’s “power and influence.”
-----Cryptonews AD----->>>
Sign up for a Bybit account and claim exclusive rewards from the Bybit referral program! Plus, claim up to 6,045 USDT bonus at . https://www.bybit.com/invite?ref=PAR8BE
<<<-----Cryptonews AD-----
In another Tweet, John Deaton slammed former SEC chair Jay Clayton and indirectly said that he was not friendly to the crypto sector when he was SEC chairman but later he joined a crypto company, obviously only for personal benefits.
Do what they do, NOT what they say. Jay Clayton, the most conflicted SEC Chair in history, says this
about #Bitcoin but THREE YEARS AGO, accepted a position with One River which had made a $1B bet on #BTC and #ETH. https://t.co/oIzWPSANwM
— John E Deaton (@JohnEDeaton1) August 15, 2023
Stand With Crypto Alliance
On 15 Aug 2023, Coinbase exchange launched a non-profit Crypto organization to represent the crypto sector & to advance pro-crypto policy around the world.
Today, Coinbase launched the #StandWithCrypto Alliance: an independent entity that will give 50 million Americans who own crypto a voice in Washington.
Now is a critical time to push back against bad policy, and advocate for sensible regulations – this grassroots organization… pic.twitter.com/pRWME6LGYW
— Ryan Selkis
(@twobitidiot) August 15, 2023
With the help of this non-profit organization, Coinbase exchange aimed to bring the voice of US crypto investors against the bad crypto policies.
Congress needs to hear from you on crypto.
Laws are being written as we speak — if you’re not contacting your representatives, you’re not being heard.Today marks the launch of the Stand with Crypto Alliance, which aims to give the 50 million Americans who own crypto a voice to… pic.twitter.com/qegQsqWslU
— Coinbase
(@coinbase) August 14, 2023
Read also: PayPal will allow Bitcoin purchases via PayPal Stablecoin: Crypto Hub
US SEC loses popularity following Coinbase suit
https://bitcoinik.com/us-sec-loses-popularity-following-coinbase-suit/feed/
https://bitcoinik.com/us-sec-loses-popularity-following-coinbase-suit/feed/
