The SEC has successfully protected many investors from making life changing money. The SEC has been nothing but an obstacle to the growth & development of crypto as an industry. Hopefully now we have more mainstream adoption & hopefully a more crypto friendly SEC head, once Gensler is fired, crypto can be allowed to develop within regulatory frameworks unopposed.
If the SEC is performing its responsibility of protecting crypto inventors from losses from scams and fake projects, that's commendable. But when it becomes a political tool for the attack on the crypto industry, it becomes a problem for the growth of the sector. Gary Gensler has not totally been an enemy of the crypto industry. At least, he oversaw the approval of Bitcoin Spot ETF, which some SEC heads have rejected in the past. Do people who are calling for the sack of Gary have a better replacement? A new chairman might be worse; who knows. 
Topic: SEC’s $15 Billion crackdown: (Read 184 times)
The most likely outcome is to restrict investors on a nationalist basis because without restriction its possible that capital is exported to foreign companies more then enterprise in the USA. I imagine that scenario is feared by either side of the house regardless of politics they don't favor an outcome where there is no border at all in crypto.
If it is the future of enterprise for any part of the economy this could be a very important decision, either party has a desire to tax whatever innovation and business is occurring online. In fact its an inevitable requirement due to the debt service cost already incurred by previous administrations.
If it is the future of enterprise for any part of the economy this could be a very important decision, either party has a desire to tax whatever innovation and business is occurring online. In fact its an inevitable requirement due to the debt service cost already incurred by previous administrations.
The SEC has successfully protected many investors from making life changing money. The SEC has been nothing but an obstacle to the growth & development of crypto as an industry. Hopefully now we have more mainstream adoption & hopefully a more crypto friendly SEC head, once Gensler is fired, crypto can be allowed to develop within regulatory frameworks unopposed.
I came across this article
According to a popular pro-crypto attorney and Senate candidate John Deaton, the SEC's overreach into the crypto industry has cost retail investors over $15 billion in losses.
You can read up on this article
https://cointelegraph.com/news/sec-crypto-overreach-investors-15b-deaton
Hmm just like that 15 billion dollars vanished into thin air as the SECs hammer drops. SEC is raking in 4.7 billion dollars from crypto firms.
About 7 US States are calling the SEC’s crack down as a power grab, will they tame the regulator or usher in a financial Wild West.
Time will tell, What do you think ?
Could you imagine that playing regulator could cost a whopping $15 billion?
According to a popular pro-crypto attorney and Senate candidate John Deaton, the SEC's overreach into the crypto industry has cost retail investors over $15 billion in losses.
You can read up on this article
https://cointelegraph.com/news/sec-crypto-overreach-investors-15b-deaton
Hmm just like that 15 billion dollars vanished into thin air as the SECs hammer drops. SEC is raking in 4.7 billion dollars from crypto firms.
About 7 US States are calling the SEC’s crack down as a power grab, will they tame the regulator or usher in a financial Wild West.
Time will tell, What do you think ?
Could you imagine that playing regulator could cost a whopping $15 billion?
If you consider that one of the first people they interviewed to give an opinion for this article was a lawyer, who is likely positioned to enrich themselves if somehow they could make cases against the government and get payoffs, then you understand the real tone of the article. The SEC is there to protect retail investors and frankly, there are a lot of people who need protecting because they would lose a lot of money unless the worst excesses of scams and the thousands of altcoins weren't looked at for abusive practices. There has been no crackdown, rather crypto has filled a vacuum and continues to drip into every available space until the government push back on the peddlers with already existing securities laws.
Deaton is a Republican US Senate candidate. Republicans tend to support the minimal state and see oversight by authorities and regulations of various areas as excessive because they strongly believe in the free market and in the state not getting involved where things can be resolved without it. He is also currently competing against Warren, so this accusation of the SEC is very much a part of is political games. This guy is also pro-XRP, as stated in the article, so he's defending altcoins, not helping Bitcoin.
Yes, so it's just normal for him to really talk s**t against SEC, as they have been a ongoing war, and this is not the first though, even Ethereum before was being taken down by SEC and they don't have a clear cut law with regards to tokens or "securities".
So there should be no surprises here, they are operating under their mandate of "protection of the investing public". And at the end of the day, they will do their job and it's very unfortunate that those affected are obviously going to lose money all throughout their witch hand and crackdown. So let's see who is going to sit next as SEC chair once we have a new US president next month.
I came across this article
According to a popular pro-crypto attorney and Senate candidate John Deaton, the SEC's overreach into the crypto industry has cost retail investors over $15 billion in losses.
You can read up on this article
https://cointelegraph.com/news/sec-crypto-overreach-investors-15b-deaton
Hmm just like that 15 billion dollars vanished into thin air as the SECs hammer drops. SEC is raking in 4.7 billion dollars from crypto firms.
About 7 US States are calling the SEC’s crack down as a power grab, will they tame the regulator or usher in a financial Wild West.
Time will tell, What do you think ?
Could you imagine that playing regulator could cost a whopping $15 billion?
According to a popular pro-crypto attorney and Senate candidate John Deaton, the SEC's overreach into the crypto industry has cost retail investors over $15 billion in losses.
You can read up on this article
https://cointelegraph.com/news/sec-crypto-overreach-investors-15b-deaton
Hmm just like that 15 billion dollars vanished into thin air as the SECs hammer drops. SEC is raking in 4.7 billion dollars from crypto firms.
About 7 US States are calling the SEC’s crack down as a power grab, will they tame the regulator or usher in a financial Wild West.
Time will tell, What do you think ?
Could you imagine that playing regulator could cost a whopping $15 billion?
SEC is indeed acting as a regulatory terrorist against the crypto companies in US. I don't see an immediate solution to this unless the government changes and Trump delivers what he has promised to the Bitcoin community.
But honestly I think, it is way better for crypto companies to move to business friendly countries like UAE or Singapore. These countries welcome foreigners with red carpet if they want to start a business. United States should be the least favourable destination for the crypto companies.
If the Americans don’t like the way the SEC operates, they can vote Trump next month as he made a promise to fire the head of the SEC, Gary Gensler. It is as easy as this. It they don’t see a problem, these dirt bags will continue to be a pain in the the ass. Elon hates the SEC too and now I can understand why. Any sane person hates them. The SEC does more harm than good to crypto.
Deaton is a Republican US Senate candidate. Republicans tend to support the minimal state and see oversight by authorities and regulations of various areas as excessive because they strongly believe in the free market and in the state not getting involved where things can be resolved without it. He is also currently competing against Warren, so this accusation of the SEC is very much a part of is political games. This guy is also pro-XRP, as stated in the article, so he's defending altcoins, not helping Bitcoin.
I came across this article
According to a popular pro-crypto attorney and Senate candidate John Deaton, the SEC's overreach into the crypto industry has cost retail investors over $15 billion in losses.
You can read up on this article
https://cointelegraph.com/news/sec-crypto-overreach-investors-15b-deaton
Hmm just like that 15 billion dollars vanished into thin air as the SECs hammer drops. SEC is raking in 4.7 billion dollars from crypto firms.
About 7 US States are calling the SEC’s crack down as a power grab, will they tame the regulator or usher in a financial Wild West.
Time will tell, What do you think ?
Could you imagine that playing regulator could cost a whopping $15 billion?
This is not far from what I said in another thread which is basically about the SEC and their policies. So you have to understand the SEC as the main center in enforcing the financial market. From its name alone it is clear that the Securities and Exchange Commission carries out the mission of monitoring, enforcing, regulating, operating, filtering all types of assets in the stock market, especially crypto and what needs to be underlined is that the SEC is a GOVERNMENT AGENCY. no need to be surprised by the nominal amount they can burn in one fell swoop, it can even be 2x more than $ 15 billion. According to a popular pro-crypto attorney and Senate candidate John Deaton, the SEC's overreach into the crypto industry has cost retail investors over $15 billion in losses.
You can read up on this article
https://cointelegraph.com/news/sec-crypto-overreach-investors-15b-deaton
Hmm just like that 15 billion dollars vanished into thin air as the SECs hammer drops. SEC is raking in 4.7 billion dollars from crypto firms.
About 7 US States are calling the SEC’s crack down as a power grab, will they tame the regulator or usher in a financial Wild West.
Time will tell, What do you think ?
Could you imagine that playing regulator could cost a whopping $15 billion?
I guess SEC is doing what’s best for us small investors not to be deceived by this big companies that might be scams but sometimes they do too much eh!.
Jokes aside, crypto firms and bitcoin firms are two different things. For instance, is the loss on Terra Luna included in that? Novogratz probably filed a loss when he got screwed by Kwon and Mr. CEO was charged by the SEC in 2023. Should we care that Ripple was hit by a lawsuit? It's the same Ripple that financed that anti-bitcoin art campaign.
I don't like the SEC and agree that Gensler is not helping the market grow, but some of these shitcoins brought it upon themselves.
Lol, you mocked SEC and also gave them props up with some of the stuff they did, I am not sure who you are supporting I don't like the SEC and agree that Gensler is not helping the market grow, but some of these shitcoins brought it upon themselves.
. I feel like SEC is doing a fine job, they may make mistakes sometimes but before them there were way too many companies who did illegal activities and now thanks to them we are seeing them attack the right type of companies to get them be fine or at least close them up with high level of punishment. I rather have SEC breathing down the necks of clear and legit companies, to make sure there are no more shady and scam ones left, then let them just ignore the entire crypto world and make it a wild wild west type of thing.I am glad with the way things are looking right now and I am glad they are dealing with what we have right now. Sure there are cases where it looks like they are doing too much, but I just chalk it up to price of what we get for trying to clean the crypto market, shouldn't really be a big deal and would be a good situation for us.
John Deaton believes that the crypto "overreach" at the SEC costs retail investors $15 billion. He cited aggressive enforcement, such as compelling platforms like eToro to suspend crypto trading, coming at their expense by taking small investors out of the market. This comes as $4.7 billion was collected in penalties in 2024 alone, reviving concerns that the SEC may be harming rather than helping those it is supposed to protect.
The SEC meanwhile says that it needs rules to protect consumers from fraud, such as the $4.47 billion settlement it reached in September with Terraform Labs, whose implosion was blamed for billions of dollars in investor losses. Though Deaton blames the agency for hurting the retail investor, the SEC sees its role as crucial to prevent even greater financial devastation. Both sides of this debate illustrate the enduring tug between investor protection and innovation in the market.
The SEC meanwhile says that it needs rules to protect consumers from fraud, such as the $4.47 billion settlement it reached in September with Terraform Labs, whose implosion was blamed for billions of dollars in investor losses. Though Deaton blames the agency for hurting the retail investor, the SEC sees its role as crucial to prevent even greater financial devastation. Both sides of this debate illustrate the enduring tug between investor protection and innovation in the market.
You don't understand! They are doing all of this to protect you. They want to help you save money, which is why they make you lose money first. You learn by doing and all that 
Jokes aside, crypto firms and bitcoin firms are two different things. For instance, is the loss on Terra Luna included in that? Novogratz probably filed a loss when he got screwed by Kwon and Mr. CEO was charged by the SEC in 2023. Should we care that Ripple was hit by a lawsuit? It's the same Ripple that financed that anti-bitcoin art campaign.
I don't like the SEC and agree that Gensler is not helping the market grow, but some of these shitcoins brought it upon themselves.
Jokes aside, crypto firms and bitcoin firms are two different things. For instance, is the loss on Terra Luna included in that? Novogratz probably filed a loss when he got screwed by Kwon and Mr. CEO was charged by the SEC in 2023. Should we care that Ripple was hit by a lawsuit? It's the same Ripple that financed that anti-bitcoin art campaign.
I don't like the SEC and agree that Gensler is not helping the market grow, but some of these shitcoins brought it upon themselves.
We can't totally blame them because there are indeed a lot of crap projects out there. Most of them are screwing up gullible investors. It can really save some people from despair and financial losses. Not all people are doing their job to research what they are about to encounter, thus, they need other entities to be strict with some protocols. Otherwise, people will be subjected to these fraudulent activities. Though there are still valid and legit projects, however, you can only count them with your fingers.
You don't understand! They are doing all of this to protect you. They want to help you save money, which is why they make you lose money first. You learn by doing and all that
Jokes aside, crypto firms and bitcoin firms are two different things. For instance, is the loss on Terra Luna included in that? Novogratz probably filed a loss when he got screwed by Kwon and Mr. CEO was charged by the SEC in 2023. Should we care that Ripple was hit by a lawsuit? It's the same Ripple that financed that anti-bitcoin art campaign.
I don't like the SEC and agree that Gensler is not helping the market grow, but some of these shitcoins brought it upon themselves.
Jokes aside, crypto firms and bitcoin firms are two different things. For instance, is the loss on Terra Luna included in that? Novogratz probably filed a loss when he got screwed by Kwon and Mr. CEO was charged by the SEC in 2023. Should we care that Ripple was hit by a lawsuit? It's the same Ripple that financed that anti-bitcoin art campaign.
I don't like the SEC and agree that Gensler is not helping the market grow, but some of these shitcoins brought it upon themselves.
I came across this article
According to a popular pro-crypto attorney and Senate candidate John Deaton, the SEC's overreach into the crypto industry has cost retail investors over $15 billion in losses.
You can read up on this article
https://cointelegraph.com/news/sec-crypto-overreach-investors-15b-deaton
Hmm just like that 15 billion dollars vanished into thin air as the SECs hammer drops. SEC is raking in 4.7 billion dollars from crypto firms.
About 7 US States are calling the SEC’s crack down as a power grab, will they tame the regulator or usher in a financial Wild West.
Time will tell, What do you think ?
Could you imagine that playing regulator could cost a whopping $15 billion?
According to a popular pro-crypto attorney and Senate candidate John Deaton, the SEC's overreach into the crypto industry has cost retail investors over $15 billion in losses.
You can read up on this article
https://cointelegraph.com/news/sec-crypto-overreach-investors-15b-deaton
Hmm just like that 15 billion dollars vanished into thin air as the SECs hammer drops. SEC is raking in 4.7 billion dollars from crypto firms.
About 7 US States are calling the SEC’s crack down as a power grab, will they tame the regulator or usher in a financial Wild West.
Time will tell, What do you think ?
Could you imagine that playing regulator could cost a whopping $15 billion?
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