There's just bad news when everyone gets ready to wait for the price to be applied. I think that the alleged violation is still not completely true, because before this came, Robinhood also had good faith and was pro-active in coordinating with the SEC for regulatory clarity. The hope is that we can quickly find common ground and the market will return to normal if not many more will come forward with the same problem.
That is the thing, there was no regulatory clarity at the time when it came to cryptocurrencies.
The SEC are capitalizing on this vulnerability from all these companies they are targeting.
Does it seem like Gensler is prosecuting them on a level playing field with these filings and cases against cryptocurrency?
I think not.^
Yes, I read about that. Robinhood seems to be abiding on every meeting. 16 meetings. CEO of Robinhood Vlad Tenev is frustrated with what SEC is doing to them.
And on other news about our topic guy.
SEC Chair Gary Gensler: ‘Crypto is a small piece of our market, BUT…’https://ambcrypto.com/sec-chair-gary-gensler-crypto-is-a-small-piece-of-our-market-but/
“Crypto is a small piece of our overall markets. But, it’s an outsized piece of the scams and frauds and problems in the markets.”
“You have a whole central bank, and support for one currency, generally per economic region, which is not the case with Bitcoin.”
“Bitcoin has the leading market share in ransomware, and that’s publicly known. It’s the token of choice for ransomware.”
They are targetting big companies which is obvious from the names of the attacked ones. Coinbase, Kraken, Consensys, and now Robinhood. They do not even try to look at how they can protect the other investors who are victims of scams from tokens that are created literally for evil intentions.
Those big guys will always follow the rules to keep their companies intact while the small ones are the ones who are doing the hit and run and they don't even see it.
Robinhood has abide by their rules from the very start yet they are still in Gensler's crosshairs.
“Crypto is a small piece of our overall markets. But, it’s an outsized piece of the scams and frauds and problems in the markets.”
That statement from the SEC's chairman tells you everything you need to know.
Nothing will change this guys mind no matter how narrow it is towards all cryptocurrencies.
