Does SEC control the Crypto market?

[harrie blaze]

The Securities and Exchange Commission (SEC) plays an important role in the crypto market. SEC regulates all public securities markets and the financial reporting of public companies. The SEC has the authority to scrutinize any cryptocurrency if they feel that it is not good for publicuse it can also affect the crypto market as well.
We have seen much news that SEC believes that a few cryptocurrencies are not secure and delisted them or made a case on them. One of the biggest cases that made highlighted is Ripple VS SEC. SEC believes that Ripple is not a security. The recent conclusion was on July 13 2023 where U.S District Judge Analisa Torres ruled partially in favor of Ripple. But still, this case is not finished the conclusion is yet to be announced.

Recently there was big news that SEC asked a big trading market platform to stop trading on any other coin except Bitcoin and the CEO Brian Armstrong asked SEC for reasons but the reply was not up to mark but CEO believes that they will win this case but this news effects them a lot they were on the top once and now they are on the second place.

SEC can easily affect this market and it plays an important role. What are your thoughts on this? Do you think that SEC can effect this market positively and negatively as well?

 

[BashirJasper]

Haha, the trading platform has gotta be coinbase. Well, if the ruling on the suit goes in favour of the exchange, then that would be river too many for SEC to cross and I guess they'll have to throw in the towel and concede defeat. To be honest, I strongly believe Gary Gensler is overdoing it and at this point might just be an effort in futility. Nevertheless, I see the crypto industry is waxing stronger after watching the parley at the EmpowerX summit where industry experts gathered to discuss the industry's activities and expectations

 

[ImamShaheb]

The Securities and Exchange Commission (SEC) plays an important role in the crypto market. SEC regulates all public securities markets and the financial reporting of public companies. The SEC has the authority to scrutinize any cryptocurrency if they feel that it is not good for publicuse it can also affect the crypto market as well.
We have seen much news that SEC believes that a few cryptocurrencies are not secure and delisted them or made a case on them. One of the biggest cases that made highlighted is Ripple VS SEC. SEC believes that Ripple is not a security. The recent conclusion was on July 13 2023 where U.S District Judge Analisa Torres ruled partially in favor of Ripple. But still, this case is not finished the conclusion is yet to be announced.

Recently there was big news that SEC asked a big trading market platform to stop trading on any other coin except Bitcoin and the CEO Brian Armstrong asked SEC for reasons but the reply was not up to mark but CEO believes that they will win this case but this news effects them a lot they were on the top once and now they are on the second place.

SEC can easily affect this market and it plays an important role. What are your thoughts on this? Do you think that SEC can effect this market positively and negatively as well?

Nah,SEC doesn't control the market. Yeah they have influce but that's not enough ti control the whole market. I hope you remeber how polygon went against SEC directly, that's the proof. But, top players like Bitget/Nance obeys SEC to provide their services to their US customers.

 

[ImamShaheb]

Haha, the trading platform has gotta be coinbase. Well, if the ruling on the suit goes in favour of the exchange, then that would be river too many for SEC to cross and I guess they'll have to throw in the towel and concede defeat. To be honest, I strongly believe Gary Gensler is overdoing it and at this point might just be an effort in futility. Nevertheless, I see the crypto industry is waxing stronger after watching the parley at the EmpowerX summit where industry experts gathered to discuss the industry's activities and expectations

But it seems like Gary is going to be thrown away. Implementing disgusting rules on Bitget/Nance/Other Top Players was one thing, but messing around with Blarock is what SEC can't afford.

 

[bantrau817]

I'd like to know more about how the SEC decides whether a cryptocurrency is safe for public use or not. What factors go into this decision, and can the SEC effectively monitor and intervene in the cryptocurrency market?

 

[saokhong8]

I believe that the SEC plays a crucial role in ensuring safety and transparency in the cryptocurrency market. Their oversight and evaluation of cryptocurrencies help protect users from potential risks. However, I am also concerned about their decision-making process and how they influence the market.

 

[mantrua817]

It sounds like the SEC is the "king of approval" in the world of cryptocurrency, isn't it? They not only determine which coins are safe but can also establish rules like "this game can only be played with Bitcoin." I think the CEO will have to win this lawsuit to retain the top position.

 

[xanhcauntir]

I don't believe that the SEC can have both positive and negative impacts on this market simultaneously. Perhaps they can protect users from unsafe cryptocurrencies, but they can also make the market overly dependent on their decisions. What's crucial is careful consideration and maintaining balance in managing this cryptocurrency market.

 

[bachnhuc8273]

I am of the opinion that the SEC can play a positive role in ensuring that the cryptocurrency market doesn't become too chaotic and risky. However, transparency and fair procedures in evaluating cryptocurrencies are essential. Proper intervention and decisions based on data and evidence will create a safer environment for investors and cryptocurrency users.

 

[ImamShaheb]

I am of the opinion that the SEC can play a positive role in ensuring that the cryptocurrency market doesn't become too chaotic and risky. However, transparency and fair procedures in evaluating cryptocurrencies are essential. Proper intervention and decisions based on data and evidence will create a safer environment for investors and cryptocurrency users.

It's not happening this soon untill Gary is in the power. I think because of their requirements, top players like Bitget,nance,okx,bybit have mandated KYC!

 

[ImamShaheb]

It sounds like the SEC is the "king of approval" in the world of cryptocurrency, isn't it? They not only determine which coins are safe but can also establish rules like "this game can only be played with Bitcoin." I think the CEO will have to win this lawsuit to retain the top position.

If that's the case. What about MATIC? Yeah polygon have openly declared that, if SEC is turning against them, then they wouldn't care about US market!