SEC Commissioner Says it Will Take 400 Years to go Through Cryptos it Alleges Are Securities

[HAL1000]

SEC Commissioner Hester Peirce has given her opinion on why the regulator has so far failed to develop clear rules for the crypto space.

“The SEC’s approach to regulating crypto looks somewhat like a decidedly unromantic version of CompuDate from the old TV show: we tell people to come down to the office to talk to us about their projects, plug the information they give us into our proprietary security-identifying algorithms, and then send the people home with a court date,” Peirce said. “… if we continued with our regulation-by-enforcement approach at our current pace, we would approach 400 years before we got through the tokens that are allegedly securities.“

https://thecryptobasic.com/2023/01/24/sec-commissioner-says-regulators-current-approach-will-take-400-years-to-go-through-cryptos-it-alleges-are-securities/?utm_source=rss&utm_medium=rss&utm_campaign=sec-commissioner-says-regulators-current-approach-will-take-400-years-to-go-through-cryptos-it-alleges-are-securities

 

 

Edited January 25 by HAL1000

[peanut56]

Well, at least she's being honest. This is how **** poor regulations have the ability to destroy an economy. It is of my opinion that the whole delay tactic is revolves around how the U.S. is going to retract from being an international liquidity provider and not loose international power. Right now leverage is the name of the game, and without control of international supply the U.S. looses its leverage. The international community will eventually be able to overcome U.S. liquidity with D.A.'s, but it will take a lot longer to build up the liquidity needed. Any way rant over.

[HAL1000]