This is Regulatory Disparity
I recently visited the Sec’s official website. Clicked on the drop down menu in the upper right hand corner. Followed it all the way down and found “what we do.” Now If you’ve been involved in the crypto space within the last 6 months or so depending on when you read this article you would realize in their description that it aligns more with what they don’t do. .
It says and I quote:
“ At the Securities and Exchange Commission (SEC), we work together to make a positive impact on America’s economy, our capital markets, and people’s lives.”
“Our mission requires tireless commitment and unique expertise from our staff of dedicated professionals who care deeply about protecting Main Street investors and others who rely on our markets to secure their financial futures.”
This is What it should say:
“At the securities and exchange commission we work together to make a negative impact on America‘s economy, our capital markets and in peoples lives.”
“Our mission requires tireless commitment and unique expertise from our corrupt staff of dedicated professionals who do not care about protecting main street investors and others who rely on our markets to secure their financial futures.”
“We at the sec go out of our way to manipulate laws and to shun regulatory clarity to keep retail investors in the dark while we continue to defend and create an environment only for traditional financial institutions to continue to thrive, dominate, manipulate and control the markets. “
“We have no interest in creating clarity within the crypto markets and we will continue to maintain and deploy obstacles put forth by Gary Gensler, our office head in order to keep fintech platforms as well as retail investors confused as to what and what are not securities. “
Now this may seem a little harsh but for those of us with skin in the crypto game. This description is actually very accurate.
Unfortunately As of recent the SEC has chosen to regulate with an iron fist instead of providing guidance.
Here’s another quote from their website under “what we do.”
“For more than 85 years since our founding at the height of the Great Depression, we have stayed true to our mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation.”
This couldn’t be Further from the truth.
In fact it seems to me that they are going out of their way to ensue confusion around the crypto space for multiple reasons:
To create an environment in which they can cash in on fines.
They can decide which platforms can win and which ones will lose.
They can also decide on which assets win and which ones lose.
They can control the market because let’s not forget that they work for the banks.
So they can give us the -retail investors- their big middle finger.
In closing 2021 has been a huge year for the crypto space. I’m not sure when the SEC will actually do what they’re supposed to be doing according to their website. But regardless of that I will continue to not only take profits but do my part within the crypto ecosystem.
Let’s see how the rest of this year plays out.
JK
