SEC's Double Standards: Crypto Firms Should 'Come In And Talk To Us' – Fintechs.fi
Our observations and notes.
In an another piece reporting the same news, CoinTelegraph was kind to SEC by merely stating that the SEC was "doubling down" by telling crypto firms to 'come and talk to us.'
In this opinion piece by FinTechs, however, the author says SEC is exercising "double standards'' in asking crypto firms to come and talk to them and then issuing threat to the firms that have talked to them.
In support of their assertion FinTechs refers to the Coinbase's recent experience with SEC. After having spoken to the SEC, Coinbase was promptly issued with a notice of intention to sue with the SEC opening of formal investigations on their Lend program.
Reading the news, we get the impression that the SEC is asking crypto firms to 'come and talk to them' so that they can lay a hand on their customer list. If the crypto firms refuse to oblige the SEC, then a threat of litigation is issued forthwith.
You may also wish to read our observations on a similar story here stating how the SEC and other enforcement authorities in the U.S use ambiguous legal provisions in their statute books to their advantage and use them to milk exorbitant fines from their victims.
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