The U.S. Securities and Exchange Commission (SEC) Is At War With Crypto

If you haven't been living under a rock, you are aware that the U.S. Securities and Exchange Commission also known as the SEC, is fighting with Cryptocurrencies and attempting to regulate everything that moves in the crypto space.

Now, in some cases its necessary to have the Regulators actually enforcing the law but time and time again, we are seeing an unfair treatment by the SEC to everything that is crypto related.
I wish they would be so strict with huge hedge funds like Citadel, Renaissance Technologies, Point72, Tiger Global Management, etc.
Or with the obvious cases of Insider Trading by Nancy Pelosi and many US officials...

Rules For Thee but Not for Me, Am I right?

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• Ripple vs SEC

In December 2020, the SEC filed a lawsuit against Ripple, alleging the US$1.38 billion sale of XRP, the token that powers Ripple's payment and remittance network, constituted an illegal offering of unregistered securities

The SEC accuses Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen of breaching U.S. securities laws by selling XRP without first registering it with the regulator.

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• Ethereum vs SEC

SEC Chairman Gary Gensler says that proof-of-stake tokens like Ethereum should be regulated as securities, contradicting view of CFTC Chairman Rostin Behnam.

Gary Gensler believes cryptocurrencies excluding Bitcoin, are securities since projects utilize diverse methods to endorse their tokens and attract investors.

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• Coinbase vs SEC

The potential enforcement action by the SEC is likely to be tied to aspects of Coinbase's spot market as well as its staking service Earn, Prime and Wallet products, according to Coinbase officials.

Staking is a process in which cryptocurrency holders volunteer to take part in validating transactions on the blockchain. These products often offer customers eye-popping yields.

"We asked the SEC specifically to identify which assets on our platforms they believe may be securities, and they declined to do so," Coinbase said.

The SEC brought charges against Ishan Wahi, a former product manager at Coinbase, and his brother Nikhil Wahi, as well as their friend Sameer Ramani, accusing them of purchasing and selling at least 25 crypto assets for a profit, based on insider knowledge, nine of the 25 crypto assets, the agency identifies as securities.

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• TRON vs SEC

SEC Charges Crypto Entrepreneur Justin Sun and his Companies for Fraud and Other Securities Law Violations. The companies are Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc. (formerly BitTorrent), for the unregistered offer and sale of crypto asset securities Tronix (TRX) and BitTorrent (BTT).

Eight celebrities also charged for illegal touting of Sun’s crypto asset securities, including Jake Paul and Lindsay Lohan.

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Is this SEC Crackdown on Crypto fair and justified? IMO, sometimes it is. But only if the other areas of the market had the same treatment.. To be honest, I think this is all related with the incoming CBDCs and the attempt to control everything by Govs, Central Banks and Regulators.