Topic: SEC fighting for the publics my ass - page 2. (Read 451 times)

Not surprised. We should understand that SEC and government will NEVER be on our side and support Bitcoin.

First, they were attacking stables and then made CBDC, and not they tried to destroy any exchange in the US just to control crypto and get profits from it lol.

It the end, it's all about money and control and not about people.

I understand what you are saying, I am not against the SEC if they really want to bring fairness to the investors, and they are fighting scammers in the market. I don't know if you follow the lawsuit of the SEC and Binance, but many reports say that the SEC only filed a lawsuit without giving any evidence, what they accused Binance.us was just speculation, their thoughts. That is why the court did not agree to freeze the assets of Binance.us at the request of the SEC because there was no evidence. I would support it if the SEC were just trying to do its job, but from what I see, they have a bigger conspiracy behind that.
In recent news, Binance is suing the SEC for their recent baseless slander. Things will not end anytime soon, and we will have to wait and see what happens.

I wouldn't believe any government who says that they do anything to blockchain and crypto to protect their citizen. All they do is protecting their currency, currency one of the thing (maybe the most important one) that makes them have control over the economy and the people. 

This is what I was talking about in my previous talking. I have read some of the comments here and I agree that we are all allowed to hold our own opinions and draw our conclusions and make our hypothesis and theory. I am on the side with the OP. No matter what. It all looks too coordinated or should I say too synchronized? This is exactly what @PresonPsych said about it. Anyways a part of me wishes I am wrong about this but then lets watch these asset management institutions do their thing and bitcoin natives won't be wiped.

https://twitter.com/PrestonPysh/status/1671153596547874820

I honestly don't see any reason to be insulting and using inappropriate words to attack regulators who are just doing their job, some members have already spoken about the discreditability of your source so I won't talk about that subject because I agree with them, your source is not credible. now about criticizing regulators i think you are exaggerating a lot, it makes no sense to attack the sec. exchanges (all exchanges) must comply with the laws, and this is clear. it's not normal for exchanges to like to stay away from operating under government rules, when exchanges do that then it's a very big red flag

and we need to ask ourselves why the exchanges do not have headquarters or offices in the US or in any country of the european union, the exchanges deal with millions of dollars and we are talking about money of many people here, I know that some people will say that no one should leave money on the exchange, but how do you expect a person who does daytrade to daytrade without leaving money on the exchange? so exchanges need to be secure and must follow government laws. it was too obvious that we would move towards centralization and follow governments laws, being insulted sec is meaningless, they are just doing their job

As various posters (maybe including the OP) here in this thread seemed to have referred to my own thread about the SEC, a short comment

I'm not saying the SEC is "fighting for the publics". I'm quite neutral about the SEC. As long as the regions of the world are using the model of "states" (or "countries") with "governments", we will probably have authorities regulating the financial system. And they have certain norms and principles to abide. And knowing at least the spirit of these norms (e.g. Howey Test), the services many crypto exchanges offer, and the character of most altcoins, it was quite obvious the SEC moves would eventually happen. (Regarding altcoins being in reality "securities", I've predicted such a market separation several months ago, and I think this wasn't a difficult prediction).

I'm not saying the SEC is "good". Everybody has the right to distrust authorities. Authorities sometimes are prone to corruption and misbehaving. But much of that what I'm reading here is simply conspiracy speculation without any real proofs or even clear clues.

And of course The Sceptical Chymist is totally right: The entities which are supposedly about to create an own exchange are private. They're not related in any way to the US government or the SEC. Of course one has to be wary about corruption here too. But also here - I don't see any proof nor coherent clues that there is something fishy in this case.

Of course also you've to take into account that if one big player (in this case, Binance US) is about to get closed or has difficulties, other players will take the opportunity and try to enter the market. That's what capitalism is about, and it's ok.

stompix, as additional data Binance also failed to get a license in Indonesia and that's why the government blocked the site. Then Binance had a partnership with one of the licensed local exchanges in Indonesia, even after that the government got a large tax revenue from it due to the increased trading volume.

OP, I don't think the SEC is sincere about protecting investors but they seem like they really want to attack crypto and damage investors. Look how the investors in the US reacted, they seem to feel unprotected but they have been tortured by the decline in assets.

SBF was working with the SEC, which is why they're dropping charges against him and he's in house arrest.
You should ask yourselves why a person who let the world know about US covert operations had to leave the country or he'd be facing life in prison and a person who stole billions under the nose of US government is released on bail.

Not truly shocking and i've been anticipating that we would really be heading there.They might really be having that kind of interference  or having some involvement and trying to make crypto to look bad but in the

end they would really be liking to dive in and to those negativity that they've been throwing out is really just that showing that they do really oppose into its existence but the real thing is that they do hate up
because they were late. How they could be able to miss up such opportunity for them to make money? This is why its not really that shocking about these SEC issues or whatsoever that it is correlated
with these sectors and trying out to say about protection or whatsoever they are claiming.

And now,this? Having an exchange platform knowing that US is really been that targeting everything that they do have on their way first? Not something shocking thing for me.

And your source is a shitposting twitter account with their source being the trust me bro newspaper!
This is your source?


Then can you tell me why:
- did Binance flee from Singapore citing regulations in 2017?
- did Binance flee  Japan citing regulation in 2018?
- did Binance flee from Malta before even requesting a license in 2018?

Binance not managing to hold to a license in every country they've tried besides Bermuda, lol, is this also a US conspiracy?
Or it is proof they never planned to play by the rules anywhere?

The SEC for other securities assets may indeed be quite useful and protect the residents there so they stay safe. But when it comes to the SEC getting involved in crypto. then I dare not say anything. But it seems that some people will have the same thoughts as you OP. because basically everything in this world is about profit. Believe me, starting from the common people to the highest leader in a country, in the end, they only want personal gain. although there are indeed some who have a pure heart who really intend to bring prosperity and help on the basis of humanity. but that is very rare nowadays. But still the clarity of regulations in a country is still needed to keep everything organized administratively. and basically institutions are made for that purpose.

Never did like the SEC from the start just like other centralised authorities such as the FTC etc since they are all just corrupt fools catering to more corrupt fools on top of the hierarchy.

They can never completely centralise the crypto space which is why it's hilarious watching them try and fail again and again.

SEC is trying to protect the investor. Investor and public are not the same.
Plus its doing a terrible job at it.

Who believed that SEC is fighting for the public? We, at least most of us, already knew that they are doing this only because they want control and regulations imposed and the main purpose is simply to push the exchanges away because they don't have any access to them, though we weren't expecting something like this and this is new for me but I'm still not surprised as I always knew this is what they wanted.

The governments cannot accept the fact that there are exchanges and cryptocurrencies that are operating within their countries but they are not in full control of them, the two main reasons behind that are money and power, with this exchange that they are going to create, will give them both, but, I don't think that a lot of people will use their exchange.

I read the news earlier today and expected to see the price rising and things will get hotter once these companies invest even a little of their fortune. The buying price of Bitcoin will get higher and higher and this will attract more people and make others get informed about Bitcoin hopefully.

Lol, how funny all this is turning out to be. Every bitcoin enthusiast that has an in-depth understanding of the crypto market will know that the SEC and Binance saga is getting at something for the benefit of the government. This is what we see after a long thorough investigation and clamping down of Binance activities in the US. I hope we don’t see more findings and reports of their newer inventions into the crypto space soon again.


Maybe or maybe not. Big centralized exchanges that we see going bankrupt is always out of shock, no one sees it coming and makes everyone baffles about them. I still think they’re some hidden agendas that must have led to that happening. Every exchange must have taken measures for their exchanges not to go bankrupt, going bankrupt all of a sudden always pose a sense of doubt and hidden risks from external forces or competitors, that’s strictly what I believe.

We may look at it, the government creating its own exchange, as taking advantage of the cryptocurrency industry while they are claiming that they do it to protect the masses.  Now with the SEC action of suing Binance and Coinbase, it is a clear act of elimination.  They use their authority to eliminate or weakn the competitors.  I found it selfish because the SEC or the government is removing the different options to trade cryptocurrency while they are planning to create their own crypto exchange.

Seems like too much of a tinfoil hat theory to me. Big invesement companies (not US) are investing into it. They aren't running a custodial exchange nor they are trading securities or anon coins. So comparing this to traditional CEX like binance is pointless. Binance could go same route if they wished, but that ain't their modus operandi. Also i don't think EDX will be offering staking as a service, which isn't even real staking to begin with.

Central Bank Digital Currencies (CBDC) however are whole another issue and not necessary related to crypto in any way. Nor it isn't really in SEC's wheelhouse. So i am not sure how that applies here.

Maybe you aren't getting the clear picture yet. The SEC is an agency that is checking out what a CEX is doing. They are there to ensure scammers and hackers don't have an upper hand with unknown users funds.
The investigation of SEC lately has shown us that no matter how many cat in the hat gets pulled out, one party stands to gain and the other has to count its losses. Hence the regulation of some activities. Insecurity is mounting too, and when banks can't track huge funds meant to sponsor terror, there's no doubt other channels were used for payments. What other channels beside a decentralized system like the ones the CEX provide does it better?

The revelation of most of the practices by these CEX is an eye opener to always keep your coins in a wallet detached from your browser device, keep your keys safe and not trust anyone with it.

Anyone that took the time to think about the future of this market knew this was coming, in a way this is similar to what they did against gold, in which the private coin minters were put out of business by the governments with the excuse only they were trusted enough to mint coins with the right weight and the right gold content, which eventually lead us to the fiat path in which we are right now, so they are trying to appropriate this market too, will they succeed? Not completely as there will always be people like us which will never use those exchanges, but there will be many people that will in fact use them and believe on their lies.