Monday, 15 July 2024
Trending
CryptoCrypto Regulations

The SEC puts corporate capitalism ahead of investors

Pro-XRP attorney John Deaton thinks that the US Securities and Exchange Commission’s (SEC) actions against the crypto business are motivated by a larger goal to maintain corporate capitalism rather than putting investor protection first.

Deaton questioned the SEC‘s moves against Coinbase and Ripple, pointing out the absence of accredited investor regulations, its strategy for regulating cryptocurrencies, and its stance regarding retail investors in the Ripple case. He asserted that rather than having a true capitalist system, the US operated inside a corporate capitalism framework.

Corporate capitalism

Deaton criticized the SEC for directing its limited resources toward Section 5 cases and for concentrating on the exchange secondary market rather than pursuing fraud in the cryptocurrency industry.

He made the case that this strategy might stifle innovation and slow the expansion of the budding Bitcoin sector. Additionally, he challenged the SEC’s opposition to retail investors serving as amici curiae in the Ripple case, which seemed to indicate a reluctance to take their opinions into account.

  • SEC actions against crypto businesses prioritize corporate capitalism over investor protection.
  • Deaton criticizes SEC’s focus on Section 5 cases and the secondary market.
  • Deaton criticizes SEC’s Section 5 cases and secondary market focus.

Deaton questioned the SEC’s lack of communication with proactive organizations like Coinbase and SEC Chair Gary Gensler’s discussions with former CEO Sam Bankman-Fried in addition to the perceived double standard in cryptocurrency regulation.

The effectiveness and fairness of the regulating body, as well as the entire framework for digital assets, are called into question by this disparate treatment.

The SEC’s varying treatment of distinct industry players could obstruct the growth of creative startups while possibly favoring more seasoned organizations.

Related posts
AltcoinsCrypto

Bitcoin Surges Past $60K Amid Market Revival

Bitcoin surpasses $60,000 mark, marking a significant recovery. Altcoins like Dogecoin and Shiba…
Read more
CryptoTrending

XRP Surges Over 17%: Key Drivers and Future Predictions

XRP’s price jumps over 17% amid ETF speculations and positive legal news. Ripple’s…
Read more
CryptoCrypto Regulations

The Rise of Crypto Investments in the United States: A Beacon of Opportunity

Regulatory clarity and robust frameworks drive investor confidence. Access to substantial capital…
Read more
Newsletter
Become a Trendsetter

To get your breaking, trending, latest news immediately without diluting its truthfulness join with worldmagzine immediately.

Leave a Reply

Your email address will not be published. Required fields are marked *

ChinaPolitics

Court Says "Glory to Hong Kong" Song will Not be Banned

Worth reading...