The only Democratic Commissioner of the US Securities and Exchange Commission has stated that the agency is “playing the game of regulator Janga” with its approach to the crypto industry and market regulation under Trump Administration.
In May 19 Comment At the SEC Species event, Commissioner Caroline Crench described as a dangerous disintegration of the crypto and wide market “discomfort but interconnected rules”.
He compared the market stability to a “Janga Tower”, which the agency’s rules had “developed carefully over the years,” that some rules were removed.
In addition to a lament loss of employees, Crench said that the SEC has used the guidance of the employees to effectively reverse the rules without proper analysis or public comments, especially around Crypto
“Our statements on these crypto-related issues are equal to an eye and to explain that we do not plan to strictly enforce our laws in some, specific situations.”
He said that the regulator has abandoned enforcement operations, especially in crypto markets, which he calls “regulation by non-enforcement”.
“I am deeply disturbed by the abandonment of the Commission for our enforcement program,” he said.
SEC’s last remaining Democrat Commissioner Crenshow said that the agency’s “about-face” is problematic for hosting reasons, such as doubting the status of “long and fundamental matters law”.
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Crenshaw, whatever was Opposed the disposal of SEC With Ripple, said in its latest comments that 2022 FTX Fall An example was an example of what a “large crypto crisis” could look.
“They have not gone away the risk, but the calls for serious regulatory investigations are very quiet these days,” he said.
“Fails to appreciate and address these risks and complications make us to repeat hard lessons with high stakes as Crypto gets faster with traditional finance.”
In comparison, the comments of the Republican Commissioners of SEC welcomed the agency of the Crypto region.
Crypto was “dull in second limbo”
Paul Atkins Paul Atkins Said at SEC Speak event Saying that “Crypto markets have been deteriorating in SEC Limbo for years,” the agency should not be in the innovation business of Crypto companies.
Commissioner Hester Peerus, Who Head SEC’s Crypto Task Force, Said The comment that the agency’s approach under the biden administration has “developed sound regulatory exercises and should be corrected.”
He also claimed that crypto did not come under the purview of securities laws as “currently the market has the most current crypto property” securities.
“Even if a broad health of crypto assets trading in secondary markets was introduced early today and sold under an investment contract, they are clearly bought and sold in securities transactions now. Many of these crypto property are functional.”
Commissioner Mark Uyda echoed the spirit of his comrades, They said The SEC should “try to provide assurance that the regulation by enforcement will not be a device used for future policy settings.”
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