A Negative Spin On SEC Regulations - Getting Rid Of Scam Coins Is A Bad Thing?

BitCoin Plunges After...

Crypto Tanks As...

Coins Fall In Light Of...

 

None of these headline openers surprise crypto holders when we see them in the news. Whenever BTC falls they appear with their attempts to alert us to the recent stranglehold by a government.

If you check, you already know today's news of the SEC tightening regulations on Crypto. But is that really what is going on? Do people even read the source anymore, or do they simply react to headlines?

Oh NO! The SEC's Coming In!!! Better Pull Out Of BitCoin!!!!!!!!!

 

It's interesting that reading the SEC statement on the post by @lexiconical, it doesn't sound like bad news at all. So what gives?

If you read the statement by the SEC, it really is a warning to investors and a notice that they are ramping up investigations. Investigations against whom, you ask? Well, the bad guys. You know the ones who create fake websites, crap coins, and scam investment offerings.

But We Don't Want Crypto Regulations Because It's Supposed To Be Decentralized & Anonymous

 
You know I hear that. What we also don't need is the same thing that goes on in every sphere of the internet. More scams. Like every other online industry, scams and fraud do nothing but hurt those honest people working hard to change the future.

While I personally work for and support the dream of a decentralized currency, I think some regulation is in order. At least in the role of a watchdog against fraud.

Is There Really A Concern With The SEC & Crypto?

 

Sure there is, but what the statement says at this moment in time seems at least as much of a blessing as it could be a curse. If the SEC can keep their dirty little fingers out of legitimate blockchain businesses, devouring the scammers can only help.

What Are Your Thoughts On The FUD? Is SEC Regulation All Out Negative?

 
Other news in town suggests that a hack or phishing on Binance may be responsible for the sudden plunge in BTC. See what I mean? Behind the scenes, people are likely doing their normal buying and selling of crypto. Some are assuredly reacting to a skewed media message.

Perhaps others are pulling their money out of BTC and back into fiat in preparation for their next scam. Better run from the SEC!

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