Cryptocurrency VS U.S. Securities and Exchange Commission who to win!!!!
Tuesday,
Date: 11 July 2023
Asshalamu alaykum
From the start of crypto currency in digital market SEC is creating a barrier to withhold the growth of the digital marketplace. All the biggest exchanges like coinbase, Binance and crypto currencies are engaged with the SEC for their survival as SEC all the time trying to erase existing crypto systems in US and reestablish it as they want. More clearly to make it easy for the US people.
Where the rivalry started?
We know that crypto started to show its existence as a digital currency medium since 2009. From the start it could draw attention of people and people jumped over it seeing the exciting features and to secure their asset in digital medium. Because they believed crypto is the future. When people were accustomed to it SEC chairman started talking against the Crypto. Which is making the rivalry much more complicated. As SEC wants to eradicate the crypto concept from the US. If such happens investors will be in thick soup. Because they would have nothing to do in this regard. And when the major crypto exchanges will go away from their range it will become much harder to exchange their currency. This definitely threatens the survival of crypto in the world.
Concerns of SEC!!!
SEC has issues with the handling of assets of large crypto platforms or exchanges. They are highlighting the laws that deals with the investment where public must obey the regulations laid down. When people invest in Stock market they also abide by the rules and regulation of investments. But in crypto the regulations like stock exchanges are not fully followed. Here the problem starts. It is certain than any financial or investments platforms should follow the regulations of investment. But exchanges are not following it strictly. Here Sec aims to bring the crypto platforms under the compliance of this security laws.
Reasons Behind!!!
The main reason to bring crypto platforms under compliance of regulations is to protect investors fund. Many exchanges compound investors asset that creates big liability issue. Allowed. in the stock market like New York stock exchange Where trading with public fund is not allowed. High risk and high return type of benefits are also not allowed like hedge funds.
Conclusion
If the fight between SEC and digital currency continues in this way crypto might not flourish the way it should be. We expect things get as soon as possible for the better future of crypto world.
Have a good day.
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