THE SEC IS A TOTAL FAILURE

The SEC seems to be committed to destroying domestic innovation in the cryptocurrency market industry in the United States. They are going after exchanges, brokers, banks and individual companies, and anyone who has anything to do with crypto in the United States. The newest could actually be against decentralized exchanges. A new proposal could actually see the definition of exchange expanded out to allow the SEC to claim even more jurisdiction over decentralized exchanges. This comes the week that the SEC is suing Bittrex. The SEC is arguing that Bittrex is selling unlicensed securities such as Argorand, Dash and a few other tokens that they specially called out.

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The SEC is a total failure, it didn't protect against actual fraud companies like FTC. In fact, they cozied up to them, working with them to cut backroom deals. Instead, they go after companies like Coinbase, and Kraken. Companies that trying so hard to play by the rules. SEC commissioner Esther Peirce who has been a dissenting voice on the SEC approach to crypto said entrepreneurs to come in and register or else they will be sued. Coinbase Brian Armstrong just met with the UK Finance Minister. It's very clear that many countries are very much ready to welcome the cryptocurrency industry to their Shores.

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The cryptocurrency industry in the United States stands out to lose big time. Coinbase is saying that they might even leave the United States if there is no clear regulation given. Remember that they are currently being sued by the SEC because they would refuse to give them clear regulations. It would be such a big loss for the US if Coinbase leave. Totally different from what we are seeing in the UK, from the land of freedom where financial regulators refused to even just tell anyone what the rules are.