SEC Further Tightening Its Belt | Bitcointalksearch.org

Kemarit

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Quote from: roadrunnerjaiv2025 on May 06, 2022, 05:20:27 PM

QUESTION: When the US Securities and Exchange Commission said recently that they plan to "police cryptocurrency exchanges and coin offerings, as well as monitor NFTs, decentralized finance platforms, and stablecoins," what exactly do they mean by that? And to what extent can they have control over the crypto market?

You have to look at what the US SEC mandate is, to protect US consumers.

So that's what they want to do with regards to everything crypto related, they want to monitor everything, enforce KYC, limit how much money you are going to send or received etc, etc.

It's going to be a big task for them, and I'm not sure how they are going to enforce it.

TimeTeller

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Quote from: Yogee on May 06, 2022, 05:32:29 PM

Quote from: roadrunnerjaiv2025 on May 06, 2022, 05:20:27 PM

QUESTION: When the US Securities and Exchange Commission said recently that they plan to "police cryptocurrency exchanges and coin offerings, as well as monitor NFTs, decentralized finance platforms, and stablecoins," what exactly do they mean by that?

- Regulate exchanges and token sales that involves US citizens.
- Monitor means study them for now and then introduce new policies to regulate them later on.

Quote

And to what extent can they have control over the crypto market?

They can only act on what happens within their jurisdiction or on activities that involves their own citizens but there's a huge number of crypto playets coming from the US so it's difficult to estimate.

They can regulate only to some extent, like crypto-exchanges which are operating under their jurisdiction.
And so with token or coin offerings being handled under their radar. It means, their scope is also limited.
This is why some crypto-exchanges outside the US have a statement in their ToS that they are not accepting US users.
They can tighten the belt and help lessen these scammers, but it is only within their jurisdiction.

naira

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Quote from: roadrunnerjaiv2025 on May 06, 2022, 05:20:27 PM

QUESTION: When the US Securities and Exchange Commission said recently that they plan to "police cryptocurrency exchanges and coin offerings, as well as monitor NFTs, decentralized finance platforms, and stablecoins," what exactly do they mean by that? And to what extent can they have control over the crypto market?

Each state has a legal entity that monitors assets such as the SEC that covers jurisdictional operations. The SEC is therefore in constant communication with market regulators, central banks, ministries of finance, and law enforcement authorities in other jurisdictions around the world. The goal is to monitor the flow of funds. Like it or not, every citizen who has an asset monitoring agency regulation will accept the rule. If not, then the madness of the SEC is that we are punished with multiple layers of articles.

Yogee

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Quote from: roadrunnerjaiv2025 on May 06, 2022, 05:20:27 PM

QUESTION: When the US Securities and Exchange Commission said recently that they plan to "police cryptocurrency exchanges and coin offerings, as well as monitor NFTs, decentralized finance platforms, and stablecoins," what exactly do they mean by that?

- Regulate exchanges and token sales that involves US citizens.
- Monitor means study them for now and then introduce new policies to regulate them later on.

Quote

And to what extent can they have control over the crypto market?

They can only act on what happens within their jurisdiction or on activities that involves their own citizens but there's a huge number of crypto playets coming from the US so it's difficult to estimate.

roadrunnerjaiv2025

member

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QUESTION: When the US Securities and Exchange Commission said recently that they plan to "police cryptocurrency exchanges and coin offerings, as well as monitor NFTs, decentralized finance platforms, and stablecoins," what exactly do they mean by that? And to what extent can they have control over the crypto market?

Topic: SEC Further Tightening Its Belt (Read 150 times)