This is a political issue. The SEC will regulate the entire crypto market, and they do not need bitcoin, because it is possible that bitcoin will have problems. There are a lot of reasons for this, from large consumption of electricity to a threat to national security.
Sometimes even I do not understand how many Chinese, Korean, Russian and other companies first try to comply with the norms of the SEC and then the laws of their countries.
Sometimes even I do not understand how many Chinese, Korean, Russian and other companies first try to comply with the norms of the SEC and then the laws of their countries.
How exactly is the SEC going to regulate the entire crypto market? Do you really believe that that is somehow possible? What about DeFi? How is SEC going to deal with that, or the cryptos which are already considered securities by the SEC itself? I am not going to worry about the SEC. Nothing but hot air and empty threats. They only go after centralized businesses, if they can. Everything else is unenforceable as with current laws.
Enforcing laws fully against crypto would take a global dictatorship. Nothing less.
A very simple example. The most dangerous criminal is in prison (sarcasm) and Sam Bankman-Freed is free.
Tornado Cash Developer to Stay in Jail as Dutch Trial Continues
https://finance.yahoo.com/news/tornado-cash-developer-stay-jail-170223628.html
There are very few talented developers, and they are not ready to live all their lives in Afghanistan or Russia and in those countries where they are not arrested by American intelligence services.
Wait a few years and you will see how large defi projects will have white lists and KYC providers.
