Well, the SEC is like a strict schoolteacher, always keeping an eye on the naughty kids in the class. Binance just got a taste of the proverbial ruler. The whole event sent Bitcoin price sliding down the hill faster than a kid on a waterslide.
Crypto enthusiasts have been crying "Moon!" all along, but all we've seen so far are storm clouds gathering. I'd say the SEC's assault on Binance could continue to put a damper on the crypto picnic.
As for escaping the SEC's grasp, it's like trying to avoid rain in Seattle. If you're playing in Uncle Sam's backyard, you gotta abide by his rules. Crypto exchanges can try to dodge the raindrops, but without a sturdy regulatory umbrella, they're bound to get wet.
Topic: SEC Lawsuit Against Binance Is Likely To Hit Bitcoin Price - page 5. (Read 579 times)
Securities and Exchange Commission, popularly known as SEC, recently filled a lawsuit against Bianance for violating federal securities laws. This made Bitcoin price declined by almost 5%, one hour after the allegation was filled as at june 5th.
You must write the exchange name correct first. Binance, not Bianance.Bianance might not exist now but it can exist in future and can belong to a phishing exchange that tries to do phishing attacks on Binance users.
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Is it possible for all crypto exchange companies in the US to avoid SEC's trouble ?.
They will because the SEC Chair Gensler failed to protect his standpoints in the Congress months ago. He will no longer to do everything he wants if the Congress is no longer in control of the Democrats.I believe that the US. government don't want to see many cryptocurrency companies to shift their companies, offices to other nations like China mainland because of SEC.
Gensler denied to answer that in his position, in SEC available regulations, is Ethereum a security or not? He failed to answer it but he uses his power to attack many other altcoin projects. Gensler will fail, not those projects, not the cryptocurrency industry in the US.
Watch two videos
Chairman Patrick McHenry blasts SECGov Chair Gensler's disastrous rulemaking agenda and short comment periods that carve the American public out of the rulemaking process.
Watch Chairman McHenry grill Gensler on his contradictory views on digital assets
Is it possible for all crypto exchange companies in the US to avoid SEC's trouble ?.
Yes, avoid US customers by all means from your exchange. If you don't want them to attack you, you either don't have their citizens allowed to use your service at all or you register your services under their regulation and let them be in control. but it might not guarantee you're totally free because the SEC doesn't need an excuse to attack anyone who is on their target list; they can just wake up and make one.
Securities and Exchange Commission, popularly known as SEC, recently filled a lawsuit against Binance for violating federal securities laws. This made Bitcoin price declined by almost 5%, one hour after the allegation was filled as at june 5th.
As at this morning, while checking Bitcoin chart, it is currently $25.7K. The funniest part is that lots of Crypto and Non-Crypto experts had all made predictions of a pump in price.
SEC can't just stopping firing at all exchange companies they suspect fishy activities. Don't forget that Coinbase and Coinme are also victims, and there court case is still active.
Do you think SEC's lawsuit case will create more damage to the BTC price ?
Is it possible for all crypto exchange companies in the US to avoid SEC's trouble ?.
You can check further stories via New York Times -https://www.nytimes.com/2023/06/05/business/sec-binance-charges.html
As at this morning, while checking Bitcoin chart, it is currently $25.7K. The funniest part is that lots of Crypto and Non-Crypto experts had all made predictions of a pump in price.
SEC can't just stopping firing at all exchange companies they suspect fishy activities. Don't forget that Coinbase and Coinme are also victims, and there court case is still active.
Do you think SEC's lawsuit case will create more damage to the BTC price ?
Is it possible for all crypto exchange companies in the US to avoid SEC's trouble ?.
You can check further stories via New York Times -https://www.nytimes.com/2023/06/05/business/sec-binance-charges.html
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